PKN Orlen maintains dividend policy, will sell assets to Saudis

Poland’s biggest refiner PKN Orlen will maintain its dividend policy, its finance chief Jan Szewczak told a news conference.

In its strategy update published in November PKN said it was planning to pay a dividend of at least 3.50 zlotys ($0.85) per share.

“We are maintaining our previous declarations in this respect,” Szewczak said.

PKN Orlen is planning to take over smaller rival Grupa Lotos LTSP.WA and Polish gas giant PGNiG.

The company announced this month that it would sell some Lotos assets to companies including Saudi Aramco and Hungary’s MOL to fulfil EU antitrust rulings. The PGNiG takeover, meanwhile, is pending approval by Poland’s anti-monopoly watchdog.

Company’s representatives on Thursday said PKN is not planning to take part in share issues by state-controlled utilities PGE and Enea.


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