At yesterday's meeting the Board of Directors of the power company CEZ decided on a proposal of the sum of the dividend from the last year's profit to be submitted to the General Meeting of Shareholders. The Board of Directors will propose a gross dividend amounting to CZK 45 per share (nominal value CZK 100).
The total sum allocated for the dividends reaches CZK 24.2 billion. The majority owner, i.e. the Czech state, will obtain approximately CZK 16.9 billion.
The dividend proposal is in accordance with the company dividend policy - the dividend pay-out ratio is 50 - 60 % of the net profit, without the effect of extra income. The dividend pay-out for 2011 is 59.4 % of consolidated net income.
The Company's Board of Directors also decided that the General Meeting of ČEZ, a. s. will be called for 26 June 2012. Details will be given in a notice of the General Meeting which will be published at the statutory date, i.e. at least 30 days before the date of the General Meeting.