Poland's insurer PZU targets up to 100% dividend payout in 2011

By bne IntelliNews November 9, 2011
Poland's biggest insurer PZU plans over 50% dividend payout in 2011, in line with its recently upgraded dividend policy, insurer's CEO Andrzej Klesyk said at a press conference. The payout is targeted closer to 100% than 50%, Klesyk added. Last year, PZU earmarked nearly 57% of its profit to dividend. However, Klesyk was unwilling to speculate on the whole-year profit figure (in Jan-Sep, it was slightly down to PLN 1.86bn, or EUR 0.46bn), pointing out assets update and seasonal Q4 damages rise as the culprits. Simultaneously, he pledged to present a new strategy for 2012-2014 in December.

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