37.1 Share capital
Share capital is recognized at the amount stated in the parent company’s articles of association and registered in the National Court Register
All the Shares have been fully paid for.
As at 31 December 2017 and 31 December 2016
| Series/ issue | Type of shares | Type of preference | Type of limitation on rights to shares | Number of shares | Value of series/issue at par value (PLN) | Capital coverage | Date of registration | Right to dividends (from a date) |
| A | bearer | none | none | 604,463,200 | 60,446,320 | cash | 23.01.1997 | 27.12.1991 |
| B | bearer | none | none | 259,059,800 | 25,905,980 | in-kind contribution | 31.03.1999 | 01.01.1999 |
| Total number of shares | 863,523,000 | |||||||
| Total share capital | 86,352,300 | |||||||
The structure of PZU’s shareholders and information on transactions with material blocks of PZU shares are presented in section 3.
37.1.1 Distribution of the parent company’s profit
In respect to the distribution of profit for 2017 and for previous years, only the profit stated in PZU’s standalone financial statements prepared in accordance with Polish Accounting Standards is subject to distribution.
37.1.1.1 Distribution of the 2016 profit
On 29 May 2017 the PZU Management Board decided to file a motion with the Ordinary Shareholder Meeting of PZU to distribute PZU’s net profit for the year ended 31 December 2016 in the amount of PLN 1,593 million as follows:
- designate PLN 1,209 million, i.e. PLN 1.40 per share, for a dividend payment;
- designate PLN 369 million for supplementary capital;
- designate PLN 15 million for the Company Social Benefit Fund.
On 29 June 2017, the Ordinary Shareholder Meeting of PZU adopted a resolution on distribution of net profit for the year ended 31 December 2016, in accordance with the motion submitted by the PZU Management Board.
The record date was 29 September 2017 and the dividend was paid out on 19 October 2017.
37.1.1.2 Distribution of the 2017 profit
As at the date of signing these consolidated financial statements, the PZU Management Board has not adopted a resolution in the matter of the proposed distribution of the 2017 profit.
