KGHM will not pay dividends. The general decided

The ordinary general meetings of KGHM Polska Miedź shareholders decided on Wednesday that the company will not pay dividend from profit for 2024. All the profit generated for last year in the amount of over PLN 2 billion 787 PLN was allocated to the company's backup capital.

During the general president, KGHM Polska Miedź Andrzej Szydło presented information on investment outlays last year. He explained that 38 percent The whole was spent on reproductive investments, 36 percent for maintenance, and 25 percent for development.

“These expenditure in the board's intentions, and in the opinion of the management board, the proportion of these expenses must change and should change with a greater share of expenditure on development, while maintaining a certain level of not percentage, but the amount of the necessary reproduction and maintenance expenditures,” he said.

In 2023, KGHM paid 1.5 PLN dividends per share.

KGHM Polska Miedź SA deals with the extraction and processing of natural raw materials, including copper and silver. The company listed at the WSE in Warsaw has assets in Europe and the Americas; It employs over 34 thousand people. The largest shareholder of KGHM is the State Treasury, which belongs to 31.79 percent. company shares. Allianz Open Pension Fund has 5.98 percent shares in KGHM, and the Nationale -Nederlanden Open Pension Fund – 5.05 percent

KGHM is the largest producer of copper in Europe, considered a strategic raw material for the European Union. Is responsible for almost 50 percent. EU mining copper production. (PAP)

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