LegalPlayWay
Ustalenie Polityki Dywidendowej Spółki i Rekomendacja Zarządu dot. Dywidendy za 2017 r.
23 Apr 20182 pages~2 min full read
PlayWay S.A. has established a dividend policy targeting a payout of at least 90% of the company's standalone net profit.
See it on page 1For the 2017 financial year, the Management Board recommended a dividend payment of 2.38 PLN per share, totaling 15,708,000 PLN.
See it on page 2Dividend distributions are contingent on projected annual sales revenues exceeding planned investment and game development costs.
See it on page 1The company must maintain a minimum cash reserve of 15 million PLN following any dividend disbursement to satisfy the policy requirements.
See it on page 1The Management Board retains the flexibility to deviate from the 90% payout target if necessary to support capital requirements for new development teams or to maximize shareholder value.
See it on page 1Final authority for profit distribution rests with the General Meeting, which is not legally bound by the Management Board's recommendations.
See it on page 2PlayWay S.A. has established a formal dividend policy aimed at providing regular annual returns to its shareholders. The strategy centers on a commitment by the Management Board to recommend the distribution of at least 90% of the net profit reported in the company's standalone financial statements. This high payout ratio is contingent upon two specific financial thresholds: projected sales revenues for the current year must exceed planned investment outlays and game development costs, and the company must maintain a minimum cash reserve of 15 million PLN following the dividend disbursement.
The policy applies to the company’s operations within the Polish gaming sector and serves as a framework for future fiscal years, though it remains subject to adjustments based on shifting investment needs. Key factors influencing final recommendations include realized net profit and the capital requirements necessary to execute the Group’s strategy, particularly regarding investments in new development teams. The Management Board retains the flexibility to deviate from the 90% target if such a move is deemed necessary to maximize shareholder value.
In accordance with this newly defined policy, the Management Board has issued a specific recommendation for the 2017 financial year. Based on an analysis of current liquidity and projected revenues, the Board proposes a dividend payment of 2.38 PLN per share, totaling 15,708,000 PLN. While these guidelines establish a clear roadmap for capital allocation, final authority regarding profit distribution rests with the General Meeting, which is not legally bound by the Board’s recommendations and may approve lower payout levels. This regulatory announcement, issued in April 2018, aligns with market transparency requirements for publicly traded entities.
