Warsaw (Puls Biznesu) – The Dutch investor is not worried with the fact that there will be no dividend from PZU, Poland’s biggest insurance group. However, Eureko believes that the decision made by the Ministry of the Treasure is not favorable for PZU.
The Ministry of the Treasure (MSP) decided that PZU should not pay the dividend this year.
“A payout for Eureko would be disturbing our own business. The money would be used against us”, Pawel Szalamacha, the deputy Minister of the Treasure explained.
According to “PB” estimates, Eureko would receive up to PLN 600m (EUR 154.3m), much more than in previous years. However, the investor is not worried.
“This is not the smallest problem for Eureko. If MSP, the majority shareholder of PZU, makes this decision, let it be”, Michal Nastula, Eureko Polska CEO said.
And he reminds that the Dutchmen are not keen on pumping funds out of PZU.
“Last year, we withheld from voting about the dividend”, Michal Nastula said.
However, Eureko believes that the decision not to pay out dividend is not favorable for PZU.
“We believe that PZU should have a consequent dividend policy. It would help both the credibility and the image of the company”, Michal Nastula said.
Last year, PZU had PLN 3.5 billion of net income. The funds will surely not be spent for acquisitions because it is the supervisory board who decides about them and the board consists of representatives of both parties being in conflict.
(PLN 1 = EUR 0.257)
