BZ WBK increases net income by 281 percent

APA - Austria Presse Agentur
opublikowano: 23-02-2005, 17:56

Warsaw (Puls Biznesu) – BZ WBK had PLN 443.32 m (EUR 112.2 m) of net income last year, 281 percent more than in 2003. ‘Because of record results, the management has proposed to change the dividend policy. Until now, 20 percent of the income was spent on dividend. From this year on, we want to spend 40 percent. This year, we will offer the shareholders PLN 177.3 m, or PLN 2.

Warsaw (Puls Biznesu) – BZ WBK had PLN 443.32 m (EUR 112.2 m) of net income last year, 281 percent more than in 2003. ‘Because of record results, the management has proposed to change the dividend policy. Until now, 20 percent of the income was spent on dividend. From this year on, we want to spend 40 percent. This year, we will offer the shareholders PLN 177.3 m, or PLN 2.43 a share’, Jacek Ksen, BZ WBK CEO.

When the other banks, including PKO BP, ING BSK or Pekao, published record levels and promised to increase dividend, their shares grew. BZ WBK did not rise, on the contrary, shares fell. ‘This is reaction to fourth quarter results, which were worse than expected. The market expected also an even higher dividend’, Artur Szeski, CDM Pekao analyst said.

(PLN 1 = EUR 0.253)Poland/Enterprises/Banks

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Podpis: APA - Austria Presse Agentur

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