Poland's Orlen quarterly EBITDA rises 73.8% y/y
The company said it would recommend a dividend of 6 zlotys per share for 2024, up from the 4.15 paid for 2023.
This amount consists of a guaranteed progressive dividend of 4.50 zlotys per share and an additional premium of 1.50 zlotys per share, which depends on the company's financial results and situation.
As of 0900 GMT, Orlen shares were up around 4.0%, outperforming Poland's blue-chip WIG20 (.WIG20), opens new tab index.
"We achieved excellent operating results. We completed work on a strategy that was very well received by the market," CEO Ireneusz Fafara said in a press release.
"We generated a large amount of cash, so we can offer shareholders a record dividend."
For 2024, total net profit reached 7.98 billion zlotys, down from 20.92 billion zlotys in 2023 as the result of record energy prices.
Orlen is one of the biggest energy groups in Central and Eastern Europe. Its largest crude supplier is Saudi Aramco while it imports pipeline gas from Norway and liquefied natural gas from the United States and Qatar. ($1 = 3.9524 zlotys)
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