Thursday, June 30, 2016

PKO BP does not assume Pekao SA, but will pay dividends conditional – Wyborcza.biz

“I deny that we took over Pekao SA” – Jagiello told reporters. President informed earlier that the bank’s strategy will be assumed organic growth and growth through mergers and acquisitions.

The question of the acquisition of Pekao appeared in connection with speculation about a possible sale of the Italian UniCredit controlling stake in Pekao and recent statements made by the Treasury Minister David Jackiewicz, who suggested that the Treasury would be interested in participating in the transaction.

– we as the company’s treasury, we have the potential to take part in such transactions and carry them out. The degree Polonization the banking sector has not yet reached us satisfactory level – said last week Jackiewicz.

What the company, if not PKO BP could have meant Jackiewicz? Perhaps PZU. A few days before the statement Michael Krupiński, president of the company, whose major shareholder is the State Treasury, said that the group would analyze all the possibilities for acquisition in the banking sector, in terms of both medium-sized banks, for example. Raiffeisen, and more.

PKO conditional dividend

Thursday’s general meeting of shareholders of PKO BP decided on a conditional allocation to dividend 1.25 billion zł, which is 1 zł per share. Adopted a resolution is in line with the recommendation of the board.

The shareholders decided on the distribution of a total of 3.82 billion zł, of which 2.57 billion zł came from the profit for 2015., And 1.25 billion zł from the retained profit from previous years. Dividend for shareholders hit 1.25 billion zł, and the supplementary capital amount of 2.5 billion zł.

Such a distribution of profits will be realized if December 8, 2016. Are met in all the following conditions: bank do not take control of the bank or other entity of the financial sector through the direct or indirect acquisition of shares or acquire the rights and does not incur the obligation of such a transfer of control and there will be no regulatory changes or changes in the recommendations of the supervisory affecting the requirements for bank’s own funds, which would result in the inability to dividend payment in accordance with regulatory requirements and recommendations of supervisors.

If these conditions are not met, the dividend will not be paid and the supplementary capital hit 3.75 billion zł. If they meet the dividend record date will be September 30, and the deadline for payment of the 20 December 2016.

The Board of the bank is obliged to adopt a resolution on the determination of the conditions of dividend at the latest 9 December 2016.

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