July 28, 2021

Biology Reporter

Complete News World

Pekao Bank received a recommendation from the Polish Financial Supervisory Authority

Pekao Bank received a recommendation from the Polish Financial Supervisory Authority

– We are a bank with a high dividend rate. Exceptionally, we did not pay a dividend for 2019 due to the regulator’s pandemic decision, Leszek Skippa, president of the bank, told PAP Biznes.

Today, we are back to sharing profits with shareholders. Our strong capital position has allowed us to take payments of 50-75% in our strategy to 2024 profit in each year of its validity. At the same time, we also offer investors exposure to dynamic business growth – he added.

In accordance with the recommendation of Pekao of the Polish Financial Supervisory Authority, as of March 31, 2021 (quarterly statements of the bank on own funds) and May 31, 2021 (monthly statements of the bank on the portfolio of receivables), in terms of the basic parameters of the dividend policy, the bank fulfilled the requirements for eligibility for payments Up to 100% dividends from the bank’s profits generated in 2020

In addition, the Polish Financial Supervisory Authority has recommended that the Bank not take other actions, especially those outside the scope of current commercial and operating activities, which may reduce the capital base, including potential dividend payments from retained earnings (i.e. retained earnings) , without prior consultation with the supervisory authority for 2019 and prior) and the purchase of private equity.

On Friday, the Pekao Board of Directors adopted a resolution on the specific conditions for the payment of dividends stipulated in the resolution on the distribution of dividends. The Board of Directors stated that the requirement for dividend distribution at the 75% level has been met. specified in the decision on the distribution of profits.

READ  Giant Japanese CEO: Organizing the Olympic Games "suicide mission"

“In view of the above, the method of distribution of the Bank’s net profit for the year 2020 is applicable, as defined at the ordinary general meeting of the Bank in paragraph 1 of the dividend resolution” — it was written in the statement.

74.8% of the bank’s net profit for 2020, i.e. 842.5 million PLN, was allocated to dividends. An amount of PLN 283.9 million has been allocated to the reserve capital.

The amount of dividend per share will be PLN 3.21. The dividend date is September 10, and the payment date is September 29, 2021.

In June, the bank informed that the general meeting decided to pay a dividend of PLN 3.21 per share, the payment of which depends on the position of the Polish Financial Supervisory Authority regarding the dividend policy of commercial banks and the supervisory recommendation of Pekao Bank in the second half of 2021.