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Commerzbank's Polish unit mulls 1st dividend payment since 2014

The management board of mBank SA recommended a dividend payment of 5.15 Polish zlotys per share from its 2017 net profit.

The total value of the proposed dividend amounts to 217.9 million zlotys. The remaining part of the 2017 net profit, amounting to 871.8 million zlotys, will be earmarked for supplementary capital, the bank said Feb. 28.

Subject to general meeting approval, the dividend will be paid June 7 to shareholders on the record as of May 24. The lender last made a dividend payment in 2014, from its 2013 profit.

The management board also recommended that shareholders approve the transfer of 1.2 billion zlotys of retained earnings from previous years into supplementary capital.

MBank is a unit of Commerzbank AG.

As of Feb. 28, US$1 was equivalent to 3.42 Polish zlotys.