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Current Report No. 14/2016

10.03.2016 08:00

Management Board’s recommendation on dividend payout

The Management Board of TAURON Polska Energia S.A. (“Company”) informs that on 10 March 2016 they adopted resolution to recommend to the Ordinary General Meeting allocation of part of the Company’s reserve capital in the amount covering sums from previous years’ profits allocated to reserve capital to pay PLN 175,254,939.40 as dividend to Company’s shareholders, which means PLN 0.10 dividend per share.

The Management Board indicates that this recommendation will be subject to approval by the Company’s Supervisory Board.

At the same time the Management Board decided to address the Company’s Ordinary General Meeting with a recommendation to determine:

1) dividend record day on the 90th (ninetieth) day counting from the day of General Meeting’s resolution on use of the Company’s reserve capital,

2) dividend payment day on the 14th (fourteenth) working day counting from the dividend record day.

Management Board’s recommendation concerning the amount of dividend to be paid to Company’s shareholders shows the intention to continue the existing adopted practice of dividend payment by the Company and takes into account in particular the financial result for the year 2015 as well as the level of reserve capital established from profits for previous years, the executed investment program of the TAURON Group and the covenants defined in financing agreements.

The proposed amount of dividend will allow the Company to maintain the debt ratio at a safe level.

Article 56 section 1 item 2 of the Act on public offering – current and periodic information

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