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KGHM Chief Wants to Change Dividend Policy, Puls Biznesu Says

KGHM SA, the European copper producer with the biggest mine output, plans to change its dividend policy, Puls Biznesu reported, citing CEO Herbert Wirth.

KGHM may link its payout to free cash flow rather than net income, the newspaper wrote. “Average dividend yield in the industry is 3 percent to 6 percent maximum, compared to our more than 20 percent,” Puls cited Wirth as saying.

To contact the reporter on this story: Konrad Krasuski in Warsaw at kkrasuski@bloomberg.net

To contact the editor responsible for this story: David McQuaid at dmcquaid1@bloomberg.net

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