The energy company ČEZ will pay shareholders a dividend of CZK 34 per share before tax. CZK 18.3 billion from 2019’s profit will be distributed among shareholders. The state, as the majority shareholder, will receive CZK 12.8 billion.
ČEZ paid a dividend of CZK 24 per share before tax in 2019 from the previous year’s profit, the lowest dividend in 12 years. The year before, the dividend was CZK 33 per share.
Through the Ministry of Finance, the Czech government owns 70 percent of CEZ, and private shareholders hold the rest. The majority of the dividend goes to the state. CEZ’s adjusted net profit increased by 44 percent compared to 2018 to 18.9 billion crowns.
The final date for exercising the right to a dividend is July 2. Last year, CEZ’s net profit rose by 38 percent year on year to CZK 14.5 billion. The company was helped mainly by increasing electricity prices and trade in commodities. The company’s revenues increased by 12 percent to CZK 206.2 billion. Despite the effects of the coronavirus pandemic, ČEZ expects further growth this year.
The company announced in March that it expects operating profit to grow to CZK 63 to CZK 65 billion and adjusted net profit of CZK 21 to CZK 23 billion. In May, CEZ changed its outlook to CZK 61 to CZK 64 billion in operating profit EBITDA and CZK 19 to CZK 22 billion of adjusted net profit.