Warsaw Exchange Hits 3-Week Low After Announcing Dividend Plan

Warsaw Stock Exchange (GPW), the operator of the Polish bourse, fell to a three-week low after proposing a lower-than-predicted dividend.

The shares slumped 2.7 percent to 36.01 zloty, the weakest level since April 25, at 12:41 p.m. in Warsaw trading.

“Investors expected the company to pay out about 75 percent of the last year’s net as a dividend,‘‘ Kamil Stolarski, an analyst at Espirito Santo Investment SA, said by phone from Warsaw today.

The operator will recommend paying 36.5 million zloty ($10.9 million), or 30.1 percent of its 2011 profit, as a dividend, the company said in a regulatory statement today.

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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