Bank Pekao has announced its plan to recommend allocating nearly 50% of its net profit for 2024 as dividends for shareholders. Additionally, approximately 25% of the profit is expected to be allocated to the dividend capital, while the remaining 25% will be directed to the reserve capital.
Profit Distribution Structure
- Shareholders’ Dividend: Approximately 50% of the profit
- Dividend Capital: Around 25% of the profit
- Reserve Capital: About 25% of the profit
The dividend capital will be set aside to facilitate future dividend payments, including advance dividends. The Bank’s Board of Directors will manage this capital to ensure smooth execution of such payments.
Compliance with KNF Recommendations
Currently, Bank Pekao has already met the criteria set by the Polish Financial Supervision Authority (KNF), allowing for a dividend payout of up to 75% of the 2024 profit. However, the bank is awaiting an individual dividend recommendation from KNF for 2025, which will confirm the feasibility of executing this profit distribution plan.
About Bank Pekao
Bank Pekao is owned by the PZU Group and has been listed on the Warsaw Stock Exchange (GPW) since 1998, as part of the WIG20 index. As of the end of 2023, the bank’s total assets reached 305.72 billion PLN.
FAQ
What is Bank Pekao’s plan for profit distribution in 2024?
Bank Pekao plans to allocate approximately 50% of the profit to dividends, 25% to dividend capital, and 25% to reserve capital.
What is dividend capital?
It is a fund created for future dividend payouts, including advance dividends, which can be managed by the Bank’s Board of Directors to ensure timely payments.
Does Bank Pekao comply with KNF’s dividend payment standards?
Currently, Bank Pekao meets the KNF requirements, allowing for a maximum 75% dividend payout from the 2024 profit. However, the bank is awaiting individual recommendations for 2025.
What are Bank Pekao’s total assets?
As of the end of 2023, Bank Pekao’s total assets were 305.72 billion PLN.
Since when has Bank Pekao been listed on the Warsaw Stock Exchange?
Bank Pekao has been listed on the Warsaw Stock Exchange (GPW) since 1998.
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