On 13 June 2011, the board of MCI Management SA took a resolution on adopting new principles of the dividend policy, in order to change the current dividend model. When recommending profit distribution for the fiscal years 2011 â 2016, the Company will put forth a proposal to the General Meeting to pay dividend on annual net profit in the total amount up to 5% of net assets of the MCI Group.
“Building the value of the Company for investors, through maximizing the profits generated on investments in alternative assets funds, will remain the ultimate business goal of MCI. We intend to allocate generated profits to financing the current portfolio of alternative funds as well as for launching new funds. However, strong financial results and the development of alternative fundraising channels by our funds enable us to think about limiting the financing of the fund portfolio directly from MCI. This also makes MCI shares an attractive product both for individual investors and for institutions seeking products with balanced stable and predictable flows. I believe our shareholders will accept the proposal with satisfaction.â â said Tomasz Czechowicz, president of MCI Management SA.
The recommendation concerning paying dividend shall be put forth to the General Meeting by the board only when the following conditions are met: total indebtment of the company on balance day, preceding the day the recommendation is issued, is below 20%; the value of dividend proposed to be paid for the given year will each time be up to 33% of the value of net profits generated by the Group in the given year; the forecast GDP growth communicated by GUS for the current and subsequent years is above 4%; if the forecasts of economic growth are lower, the value of recommended dividend may be proportionately reduced.