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PGE power sticks to dividend policy of 40-50% payout hinged on CAPEX & debt levels - dep CEO


Power group PGE maintains its dividend policy of paying out 40-50% of profit, depending on CAPEX and debt levels, deputy CEO Emil Wojtowicz told an earnings teleconference.

"[...] The dividend policy hasn't changed . . . the share is the same: 40-50%," Wojtowicz said. "We are looking at debt, investment program and acquisitions."


A precise recommendation on the dividend payment from 2016 profit will be made "closer to the AGM day," Wojtowicz said at a press conference later in the day.


In September Wojtowicz said the group maintained the policy hinged on CAPEX and forecast debt but would cyclically review it.


PGE's dividend policy adopted in August 2015 assumes payout of 40-50% of group net profit adjusted by impairment losses. The previous policy had assumed payout of 40-50% of group net profit.


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