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 which will be held on 1 June 2011. The Board of Directors will propose a gross dividend amounting to CZK 50 per share (nominal value CZK 100).
The total sum allocated for the dividends reaches almost CZK 26.9 billion. The majority owner, i.e. the state, will obtain approximately CZK 18.8 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 2010 is approximately at 57 % of consolidated net income.