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    PZU   PLPZU0000011

POWSZECHNY ZAKLAD UBEZPIECZEN SA

(PZU)
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Powszechny Zaklad Ubezpieczen : Motion of the PZU SA Management Board regarding the distribution of the profit generated in 2020 and the amount transferred from the supplementary capital created from the profit generated in 2019

05/11/2021 | 09:52am EST

Date of preparation:

11 May 2021

Issuer's abbreviated name:

PZU SA

Current Report No. 6/2021

Subject:

Motion of the PZU SA Management Board regarding the

distribution of the profit generated in 2020 and the amount

transferred from the supplementary capital created from the

profit generated in 2019

Legal basis:

Article 17 section 1 of MAR - inside information

Body of the report:

Acting pursuant to Article 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003 /125/EC and 2004/72/EC ("Market Abuse Regulation"), the Management Board of Powszechny Zakład Ubezpieczeń Spółka Akcyjna ("PZU SA", "Company") hereby reports that on 11 May 2021 it decided to submit a motion to the Ordinary Shareholder Meeting of PZU SA ("Ordinary Shareholder Meeting") regarding the distribution of PZU SA's net profit for the year ended 31 December 2020 in the amount of PLN 1,918,780,358.24 (one billion nine hundred eighteen million seven hundred eighty thousand three hundred fifty-eight and 24/100 Polish zloty), increased by the amount of PLN 2,063,819,970.00 (two billion sixty-three million eight hundred nineteen thousand nine hundred seventy and 00/100 Polish zloty) transferred from the supplementary capital created from the net profit for the year ended 31 December 2019, i.e. in the total amount of PLN 3,982,600,328.24 (three billion nine hundred eighty -two million six hundred thousand three hundred twenty-eight and 24/100 Polish zloty), as follows:

  1. designate PLN 3,022,330,500.00 (three billion twenty-two million three hundred thirty thousand five hundred and 00/100 Polish zloty), that is PLN 3.50 (three and 50/100 Polish zloty) per share, to be paid as a dividend;
  2. designate PLN 7,231,000.00 (seven million two hundred thirty-one thousand and 00/100 Polish zloty) for the Company Social Benefit Fund (ZFŚS);
  3. designate PLN 953,038,828.24 (nine hundred fifty-three million thirty-eight thousand eight hundred twenty-eight and 24/100 Polish zloty) for supplementary capital.

Moreover, the PZU SA Management Board has decided to submit a motion to the Ordinary Shareholder Meeting to set the dividend record date at 15 September 2021 and set the dividend payment date at 6 October 2021.

The proposed distribution of profit is consistent with the PZU Group 's Capital and Dividend Policy for 2021-2024, as adopted on 24 March 2021, and takes into account the recommendations contained in the Polish Financial Supervision Authority's (KNF) stance on the dividend policy in 2021 issued on 16 December 2020.

The Company's Management Board's motion to the Ordinary Shareholder Meeting will now be forwarded to the PZU SA Supervisory Board for evaluation in accordance with § 25(2)(2) of the Company's Articles of Association.

The Company's Ordinary Shareholder Meeting will make the final decision concerning the distribution of PZU SA's net profit for the 2020 financial year in accordance with Article 395 § 2 item 2 of the Commercial Company Code and § 18 item 2 of PZU SA's Articles of Association.

Legal basis: Article 17(1) of the Market Abuse Regulation - inside information.

Disclaimer

PZU - Powszechny Zaklad Ubezpieczen SA published this content on 11 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2021 13:51:01 UTC.


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