Agora's policy for returning profits to shareholders

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Regulatory filing

The Management Board of Agora SA with its seat in Warsaw (the Company), informs hereby that on February 11, 2005, they passed a resolution on the Company's dividend policy, which reads as follows:

"Agora's policy for returning profits to shareholders

Agora SA remains first and foremost focused on growth and expects to use its capital for expansion opportunities - both acquisitions and organic growth projects - that will enhance long-term shareholder value. At the same time, as appropriate and as authorized by the AGM, it will return excess capital to the shareholders through a dual mechanism of (i) a dividend and (ii) share repurchases.

The Company will propose and, upon AGM's approval, pay a dividend of PLN 0.5 per share annually. This dividend amount represents ca 1% yield which will satisfy certain shareholders seeking a current return and allow the company to potentially broaden its shareholder base. The Company intends to propose such a dividend annually, subject to the discretion of the Management Board/Supervisory Board and subject to the earnings and prospects of the Company and market conditions.

If conditions warrant, the Company will also, from time to time, submit to the AGM a request for authorization of a share repurchase program as a means of returning excess capital to shareholders. The Company will review its situation on an annual basis, prior to the AGM, and resolve whether to submit such a request. If a request is submitted, it will include all relevant terms and conditions of the repurchase program. If the program is approved, the company will periodically report its results."

Zobacz także

Contact

  • tel.: (+48 22) 555 60 36
  • tel.: (+48 22) 555 43 73
  • fax: (+48 22) 840 00 67
  • e-mail: investor@agora.pl

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