KGHM to Pay Dividend 86% Higher Than Proposed, May Borrow More
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KGHM Polska Miedz SA shareholders approved a dividend 86 percent higher than proposed by management, prompting Chief Executive Officer Herbert Wirth to say Poland’s sole copper producer may need to increase debt.
Shareholders approved a motion by the Polish government, the controlling shareholder, to pay out 2.98 billion zloty, or 14.9 zloty a share, compared with management’s proposal of 1.6 billion zloty, or 8 zloty a share, voting results at a meeting in Lubin, southwest Poland, showed today.