The Energa SA Management Board decides to continue the company’s dividend policy and declares further work towards value creation

The newly appointed Energa SA Management Board, after approval of the financial statements for 2014 on 29 April 2015, took over the reins of the company. The new management declares that it will continue the company’s long-term dividend policy and work on value creation for shareholders.

The Energa SA Management Board of the fourth term of office was selected as a result of the competition procedure completed by the Supervisory Board. Appointment of the company’s Management Board composed of: Andrzej Tersa, President of the Management Board, Seweryn Kędra, Vice-President of the Management Board for Financial Matters, Jolanta Szydłowska, Vice-President of the Management Board for Corporate Matters, took place upon adoption by yesterday’s Energa SA’s Annual General Meeting of a resolution to approve the financial statements for the 2014 financial year. Consequently, Energa’s new management started the work whose main objective is continue the dynamic creation of the company’s value for shareholders.

- My intention is to continue the ambitious long-term dividend policy and work towards development of the whole Group and increase the value of Energa SA for its shareholders. In the next few weeks we will present our development plan which will be consistent with the Group’s key strategic directions. We are committed to work intensively to achieve these results – says Andrzej Tersa, President of the Energa SA Management Board.

Yesterday’s General Meeting of Energa SA made a decision to earmark 92 percent of the individual net profit for 2014, i.e. PLN 596 million for dividend. Already on 21 May Energa SA’s shareholders will receive PLN 1.44 for each share they hold in the company. The dividend rate as at the opening price of 29 April, i.e. the AGM, amounted to 5.4 percent.

Energa's dividend policy envisages distribution of as high portion of individual profits earned as possible. Already last year approx. 83 percent of the individual net profit was earmarked for dividend. Last year’s bonus was PLN 1 per share and in total PLN 414 million was paid out to shareholders.