Dividend Policy of Zakłady Magnezytowe "ROPCZYCE" S.A.

The Management Board of the Company, bearing in mind the interests of the shareholders and the development needs of the Company, intends in the long run to recommend to the General Meeting the payment of dividend at the level of up to 60% of the Company’s net profit for a given financial year.
The Management Board’s recommendation to pay dividends will be influenced in particular by the following factors: the amount of net profit in the Company’s financial statements, the current cost of obtaining external financing and market opportunities for obtaining such financing taking into account the Company’s investment needs.
The Management Board’s recommendation on dividend payment will also depend on the share of financing with third party capital in the total capital of the Company and the debt to annual EBITDA ratio. It is assumed that in order for the dividend to be recommended, the total debt ratio calculated as a ratio of foreign capital to total equity cannot be higher than 0.40 and that the debt to annual EBITDA cannot be higher than 3.0. The Management Board may recommend to the General Meeting to buy back the Company’s shares in case of low valuation at the WSE, i.e. if the P/E ratio reaches a level lower than 10.
The dividend payment policy will be subject to periodic reviews by the Management Board, and the decision on dividend payment will be made by the General Meeting of Shareholders.

Dividend payment in 2013-2019

The value of paid dividend per 1 share in PLN:

Other information about the dividend:

The amounts allocated by the General Meeting for the payment of dividends are distributed among the shareholders in relation to the number of shares. The entitled to dividend for a given financial year are the shareholders who were entitled to the Company’s shares on the dividend day.

The dividend day shall be determined by the General Meeting of Shareholders by way of a resolution. The dividend day may not be determined later than within two months from the date of adoption by the General Meeting of a resolution on allocation of profit for distribution among shareholders.

The General Meeting shall set the dividend payment date.

Capital market institutions