Dividend Policy

Since 2012 the Company has not paid any dividends.

The Company’s dividend policy invariably calls for making its amount dependent on financial performance and the capital needs related to the purchase of more debt and other strategic investments.

Pursuant to art. 395 § 2 item 2 of the Commercial Company Code, the Shareholder Meeting is the body authorized to make decisions on the distribution of profit and dividend payments. The Shareholder Meeting adopts a resolution on whether and what portion of earnings should be allocated as a dividend payout. Pursuant to art. 395 § 1 of the Commercial Company Code, the Ordinary Shareholder Meeting should be held within six months after the elapse of the financial year, i.e. by the end of September.

Information regarding the receipt of dividends will be announced in current reports.