Consolidated financial statement of JSW S.A. Capital Group for 2012
34. Dividends paid and proposed
Per share dividend
The per share dividend ratio is calculated as the quotient of the dividend payable to the Parent Company’s shareholders and the number of ordinary shares outstanding as at the dividend date.
In 2011, the dividend consists of obligatory payments to the State Treasury treated as an interim dividend of PLN 127.0 million and a dividend payment of PLN 130.0 million to the State Treasury from the profit generated in 2010.
According to a Resolution adopted by the Ordinary Shareholder Meeting of JSW S.A. on 31 May 2012 in the matter of net profit distributions, the amount of PLN 631.7 million, i.e. PLN 5.38 per share was earmarked for a dividend payment to Parent Company's shareholders out of the net profit for the financial year 2011. The dividend date was set at 6 July 2012 and the dividend was paid out on 24 July 2012.
In accordance with the recommendation included in the JSW S.A. prospectus (page 59), in 2013 the Parent Company’s Management Board will propose to the Shareholder Meeting of JSW S.A. to pay out a dividend in the amount of no less than 30% of the consolidated net profit for 2012.
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