Current report no: 21/2022
The Management Board of Boryszew S.A. (Company, Issuer) advises that on 9 May 2022 the Management Board adopted the Company’s Dividend Policy.
According to the policy the Management Board intends to submit to the General Meeting the proposal of dividend payment equivalent to between 30% and maximum 70% of consolidated net profit of the Issuer Capital Group provided that the relation of net debt of the Issuer Capital Group to consolidated operating profit plus depreciation (EBITDA) at the end of the financial year, for which the profit will be distributed, will be below 3.5.
The definitions of net debt and EBITDA and the methodologies of their calculation are the same as the definitions and methodologies for calculation of these ratios in the Issuer’s previous current and interim reports.
When recommending profit distributions, the Management Board of the Company will take into consideration the financial and liquidity position, existing and future liabilities (including potential restrictions under loan agreements) and an assessment of the Group’s prospects in certain market and macroeconomic conditions.
The dividend policy will be applicable as of the fiscal year ending 31 December 2022.
The final decision about the amount of dividend paid will be made by the Ordinary General Meeting of the Issuer.
Legal attitude: Article 17 section 1 MAR – Confidential information.
Signatures:
Wojciech Kowalczyk – President of the Management Board
Translation from the original Polish version.
In the event of differences resulting from the translation, reference should be made to the official Polish version.