The counter-proposal of the Ministry of Finance passed, which together with a higher dividend also proposed to postpone the payment date by three months to 1 November.
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The Board of Directors of ČEZ proposed a dividend of CZK 44 per share, but this proposal did not pass.
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The approved dividend is lower than last year, when shareholders received 52 crowns per share. CZK 25.8 billion will be distributed among the shareholders, and the state, as the majority shareholder, will receive approximately CZK 18 billion.
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CEZ owns 70 percent of the state through the Ministry of Finance, the rest is held by private shareholders.
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The majority of the dividend paid thus goes to the state, voting at the ČEZ General Meeting generally ends according to the wishes of the Ministry of Finance.
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Last year, 28 billion crowns from ČEZ’s adjusted previous profit were distributed among all shareholders; the state, as the majority shareholder, received approximately 20 billion crowns.
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The money for the dividend payment comes from ČEZ as’s profit for 2021 in the amount of CZK 4.4 billion and part of the retained earnings of previous years in the amount of CZK 21.4 billion.
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The dividend consists of CZK 22 billion, which corresponds to almost the entire last year’s adjusted consolidated net profit of the entire ČEZ Group, and CZK 3.8 billion obtained from the sale of Bulgarian assets.
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The group’s profit is 41 crowns per share, the sold Bulgarian assets will add another seven crowns.
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The Ministry of Finance has proposed postponing the payout deadline by three months to maintain liquidity. Payment of the increased dividend in the deferred period means that the dividend will be paid out of the increase in operating cash flow.
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This increase will be the result of the sale of that part of the electricity produced this year, which was not sold before the beginning of this year, its sale occurred only during this year at the current higher prices.
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The General Meeting is dragging on again this year, the fourth point out of a total of ten began to be discussed by the General Meeting before 11.30 pm, ie after almost 13.5 hours from the beginning. Among other things, changes in the Supervisory Board are on the agenda.
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Last year, CEZ Group’s net profit reached CZK 9.9 billion, up 81 percent year-on-year. After adjusting for extraordinary effects, on the other hand, it fell by three percent year on year to 22.3 billion crowns.
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CEZ dividend payment for individual years:
|
year |
dividend per share (in CZK) |
|
2021 |
48 |
|
2020 |
52 |
|
2019 |
34 |
|
2018 |
24 |
|
2017 |
33 |
|
2016 |
33 |
|
2015 |
40 |
|
2014 |
40 |
|
2013 |
40 |
|
2012 |
40 |
|
2011 |
45 |
|
2010 |
50 |
|
2009 |
53 |
|
2008 |
50 |
|
2007 |
40 |
|
2006 |
20 |
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