Current report (4/2023),
Orange Polska S.A. – Warsaw, Poland
15 February 2023
Pursuant to Art. 17 clause 1 of the Regulations (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, the Management Board of Orange Polska S.A. (“Orange Polska”) announces recommendation regarding 2022 profit distribution.
Orange Polska to increase its dividend by 40% with management recommending to pay PLN 0.35 per share in 2023
Taking into account Company’s strong financial results in 2022, sound balance sheet and good future prospects, on 15 February 2023 the Management Board of Orange Polska has adopted a resolution to recommend to the Annual General Meeting of Shareholders payment of a cash dividend of PLN 0.35 per share in 2023 from 2022 profits. This proposal constitutes a 40% increase versus PLN 0.25 per share dividend paid in 2022.
In line with its dividend policy included in the .Grow strategy the Company considers PLN 0.35 per share as a new sustainable floor for the future. Further changes to dividends will be decided on yearly basis taking into account projections of underlying financial results and long-term financial leverage (net debt/EBITDAaL) forecast versus 1.7x to 2.2x leverage corridor.
The Management will make the following proposal to the Orange Polska Annual General Meeting of Shareholders with regard to dividend dates:
– the “D” day on which the right to dividend is set – 22 June 2023
– the “W” day on which the dividend is paid – 6 July 2023
The ultimate decision concerning profit distribution will be made by Annual General Meeting of Orange Polska.