Tauron Supervisory Board Approves PLN368 Million Dividend Recommendation
March 15 2012 - 11:56AM
Dow Jones News
The supervisory board of Polish power utility Tauron Polska
Energia SA (TPE.WA) Thursday approved the executive board's
dividend recommendation at 368 million zlotys ($116 million), the
company said in a regulatory filing.
The dividend recommendation implies a payout of PLN0.21 a share,
up from PLN0.15 a year earlier.
The company has a dividend policy of at least 30% of net profit.
Last year, it bought power-distribution company GZE SA from
Sweden's Vattenfall AB for PLN4.63 billion, and said later the
purchase wouldn't affect its dividend policy.
The company's shareholders are set to vote on the dividend
recommendation later in the year.
-By Marcin Sobczyk, Dow Jones Newswires; +48 22 447 2432;
marcin.sobczyk@dowjones.com