GPW - Giełda Papierów Wartościowych w Warszawie S.A.

Notice of Dividend Amount • Apr 27, 2020

Current Report No. 8/2020Date: 27 April 2020Topic:Opinion of the Exchange Supervisory Board on the distribution of theCompany's profit for 2019 proposed by the GPW Management BoardLegalbasis: Article 17(1) of MAR - inside informationContent:Furtherto Current Report No. 7/2020 of 17 April 2020, the Warsaw Stock Exchange("Exchange", "GPW", "Company") hereby announces that on 27 April 2020the Exchange Supervisory Board has issued a positive opinion on themotion of the Exchange Management Board concerning the distribution ofthe profit for the financial year 2019 which provides for the payment ofa dividend of PLN 100,732,800.00 (in words: one hundred million sevenhundred thirty two thousand eight hundred zlotys).The proposeddividend payment of PLN 100,732,800.00 implies a dividend of PLN 2.40per share. The dividend payout ratio will be 84.4% of the consolidatedprofit (93.22% of the net profit attributable to the shareholders of theparent entity adjusted for the share of profit of associates) and thedividend yield will be 6.52% based on GPW's capitalisation as at 24April 2020.The recommendation of the Exchange Management Boardand the opinion of the Exchange Supervisory Board on that matter are inline with GPW's dividend policy, which provides for the payment ofdividend, depending on the profitability and financial capacity of GPW,above 60% of the consolidated net profit of the GPW Group of thefinancial year attributable to the shareholders of GPW adjusted for theshare of profit of associates. At the same time, the intention of theGPW Management Board is to recommend to the General Meeting increase ofyearly dividend from profit for 2020-2022, not less than PLN 0.1 pershare.In issuing a positive opinion on the proposal of theExchange Management Board concerning the proposed dividend amount, theExchange Supervisory Board has taken into consideration among others thefollowing material factors indicated by the Exchange Management Board:•very good financial results reported by the GPW Group in 2019;•consistently high return ratios: ROE (13.6%) and ROA (9.6%),consistently high current liquidity (6.7), high and growing financialresources, and no risk to the payment of debt (negative net debt);•investment needs derived from the implementation of the GPW Group'sstrategy #2022;• the dividend yield and the payout ratios used bycomparable companies;• liquidity needs of the GPW Group depending onactual and expected market and regulatory conditions, current operatingexpenses and debt service, and optimisation of the structure offinancing of the GPW Group.The General Meeting is the Company'sbody exclusively competent to decide about profit distributions,including dividend payments.Legal basis: Article 17(1) ofRegulation (EU) 596/2014 of the European Parliament and of the Councilof 16 April 2014 on market abuse (market abuse regulation) and repealingDirective 2003/6/EC of the European Parliament and of the Council andCommission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (EUOfficial Journal L 173) ("MAR").