Taking into account the good and predictable financial results, limited cash outflow for investments and a high level of generated cash flow and in order to meet the expectations of shareholders, who, besides the benefits from the increase in value of the shares expect to receive dividends, the Management Board of TOYA S.A. hereby informs that on 25 March 2013 it has adopted a resolution concerning the Dividend Policy of TOYA S.A.
According to the adopted resolution, the Management Board of the Parent Company is planning consequent payment of dividend in subsequent years at 40–60% of generated net profit. As the first step, at the next Ordinary General Shareholders’ Meeting, the Management Board intends to present to the General Meeting a proposal of payment of dividend to the shareholders in the amount of 50% of the net profit generated in 2012.
The recommended dividend amount in future years will depend on the current market conditions, perspectives and the needs of funding the Parent Company and Capital Group’s development, and it will take into account maintenance of the appropriate financial liquidity. A decision on the dividend payment will be made on a yearly basis by the Ordinary General Meeting.
In Toya S.A. as per the date of adoption of this policy, there are no dividend neither voting rights preference shares.
Adopted dividend policy will be subject to periodic review.
The Management Board of the Company has requested the Supervisory Board of TOYA S.A. to approve adopted Dividend Policy on 25 March 2013.
Legal basis: Art. 56 point 1.1 of the Act on Public Offering – confidential information.