Advance to TIM shareholders towards the expected dividend before Christmas 2021
The Management Board of TIM SA decided to pay an advance towards the expected dividend for 2021. This will be the first payment based on the Company’s dividend policy for 2021-2023 presented in March 2021.
According to it, the amount of the dividend is calculated according to the following rules:
1) if the unit net profit in a given financial year is at least PLN 15 million – dividend payout of PLN 22,199,200 gross (PLN 1 gross per share), increased by 50% of any surplus of the unit net profit in a given financial year over PLN 22,199,200;
2) if a unit net profit in a given financial year is generated in the amount of up to PLN 15 million, the Management Board will propose to the Supervisory Board and the General Meeting the amount of dividend based on the assessment of the situation based on the analysis of the factors listed above.
The advance towards the expected dividend for 2021 will be PLN 1.20 gross per share, and the right to pay it will be obtained by the shareholders holding TIM SA shares on 16 December 2021. The payment itself will be made a week later – on 23 December 2021.
“As previously announced, we decided to pay an advance towards the expected dividend for 2021. Including the current advance, starting from the 2018 dividend, TIM has already paid over PLN 115 million to its shareholders” says Krzysztof Folta, President of the Management Board of TIM SA. “The Company’s very good financial standing allows us to make such a move and is consistent with TIM’s dividend policy published in March. The consistency and confidence of our actions result in our shareholders’ and investors’ trust both in the Company and the Management Board. I would also like to emphasise that we are paying an advance towards the dividend, but regardless of that we have secured funding for the implementation of our ambitious plans for further development in the following years” adds Krzysztof Folta.