Recommendation on dividend payment for 2020
With reference to report No 14/2021 of 24 February 2021, the Management Board of Budimex S.A. announces that it has decided to recommend that the Ordinary General Meeting in 2021 make a decision to pay a dividend in the gross amount of PLN 16.70 (say: sixteen zlotys and seventy grosz) per share.
It is proposed that the dividend be paid from a portion of the net profit for the period from 1 January 2020 to 31 December 2020 in the amount of PLN 310,046,824.83 increased by the amount of PLN 116,305,811.77, i.e. the entire reserve capital established in 2020 for the purpose of payment of a dividend or a prepayment against an expected dividend. It is proposed to allocate the remaining part of the net profit for the period from 1 January 2020 to 31 December 2020 in the amount of PLN 494,818.53 to the spare capital.
The Management Board’s recommendation to allocate the profit earned for 2020 for dividend payment takes into account the good cash situation of the Company and favourable prospects for its further operations.
It is further recommended that the dividend be paid on all shares of Budimex SA, i.e. 25,530,098 (say: twenty-five million five hundred and thirty thousand ninety-eight) shares.
The Management Board of Budimex SA will recommend that the Ordinary General Meeting set a dividend date in 2021 (i.e. a date of determining a list of shareholders entitled to receive a dividend for 2020) within 8 business days from the adoption of the resolution by the Ordinary General Meeting, and a dividend payment date within 12 business days from the dividend date. The recommended calendar dates will be provided by the Management Board on the date of convening the General Meeting.
The Management Board of Budimex SA presents this recommendation on the basis of the data contained in the above-mentioned report No 14/2021 of 24 February 2021 and points out that, according to earlier information, the report for 2020 together with the audit report will be published on 25 March 2021.