CSR

Dividend Policy

Dividend Policy

The basic objective of the Management Board of TORPOL S.A. is continuous, stable and systematic creation of added value for the Shareholders, allowing to achieve an attractive rate of return while maintaining prospects of further development for the Company and maintaining an appropriate level of financial liquidity.

Management Board of TORPOL S.A. (Company) informs that in accordance with resolution No. 8 of the Ordinary General Meeting of the Company of 25 June 2020 on distribution of the profit generated by the Company in the FY 2019, the Ordinary General Meeting of the Company decided to allocate the net profit generated by the Company in the financial year 2019 in the amount of PLN 27,745,040.95 to the following:

  1. increase in the reserve capital – in the amount of PLN 6,322,040.95,
  2. payment of dividend – in amount of PLN 20,673,000.00, i.e. PLN 0.90 per share,
  3. increase in the Company’s Social Benefits Fund – the amount of PLN 750,000.00.

At the same time, the Ordinary General Meeting of the Company decided that the list of shareholders entitled to dividend for 2019 (dividend day) is set at 31 July 2020 and the dividend payment date is set at 30 October 2020.

The table below presents the Company’s dividend history since its debut on the Warsaw Stock Exchange (July 2014). Since the financial year of 2013, the Company has allocated its net profit generated in full amount to the reserve capital or supplementary capital.

For the period Dividend
(in thousands of PLN)
Dividend per share
(in PLN)
Dividend day Unconsolidated net profit for the period
2014 11 485 0,50 19.06.2015 25 003
2015 15 849 0,69 27.06.2016 32 002
2016 10 107 0,44 16.06.2017 15 362
2017 0 0 nd. -13 765
2018 5 740 0,25 31.07.2019 8 166
2019 20 673 0,90 31.07.2020 27 745