Polish Energy Group Orlen Boosts Dividends in 2035 Plan After Lackluster Year
- Orlen raises 2024 dividend by 4.7% and has option to pay more
- Shares retreat as investors still see extensive capex
The PKN Orlen SA refinery in Plock, Poland.
Photographer: Bartek Sadowski/BloombergThis article is for subscribers only.
Poland’s largest energy company Orlen SA plans to increase dividends and invest as much as $91 billion in cleaner energy sources over the next decade to win back investors’ confidence after its shares tumbled last year.
State-controlled Orlen plans to spend from 350 billion zloty ($84 billion) to 380 billion zloty through 2035, including on gas production, offshore wind and small nuclear reactors, it said on Thursday as the new management picked after the 2023 parliamentary election is drawing its first plans.