General Meetings and Dividend Payments
In April 2017, the Komerční banka General Meeting approved a dividend payment for 2016 of CZK 40 per share before tax. The dividend shall be payable on 26 May 2017 to shareholders registered as holders of Komerční banka shares as of the date of record, which was 18 April 2017. The dividend shall be paid out either by bank transfer upon written notification of bank account or in cash at any branch of Komerční banka, with the exception of those branches conducting only non-cash transactions.
The dividend is subject to 15% withholding tax for Czech tax residents or in the amount determined by an agreement for tax residents from countries which have entered into a double taxation agreement with the Czech Republic. The tax rate of 35% shall be applied in the case of shareholders failing to provide evidence that they are resident for tax purposes in the Czech Republic or in a country having entered into a double taxation agreement with the Czech Republic.
The tax rate of 35% already has been applied to shareholders who have not requested their dividends and have not yet evidenced their tax residency, as the statutory deadline for deducting and payment of taxes on dividends has already passed. Should such shareholders document their tax residency, the difference between the 35% and 15% rates will be refunded to them. This will occur no later than one month after presentation of the relevant declarations.
Please see the attached document for detailed conditions regarding the dividend payment and evidencing tax residency.
|Dividend (CZK) *||170||270||160||230||230||310||310||40|
|Payout ratio (%) **||58.7||77.0||64.2||62.6||69.8||91.0||92.4||55.5|
* Dividend per share before tax
** Dividend/ Earnings per share attributable to shareholders (IFRS, consolidated)
Ordinary General Meeting 25.4.2017
The disclosure duty especially under S. 120b of Act No. 256/2004 Sb., the Act to Regulate Business Undertaking in the Capital Market, Ss. 402-403 and Ss. 406-408 of Act No. 90/2012 Sb., the Corporations Act, and the stock exchange rules of the Prague Stock Exchange part VII article 6 (4) (d) and part VI article 7 (3) (h), (i) and (l).
The annual financial statements, the consolidated financial statements, the report on the Bank’s business activity and state of assets and the Board of Directors’ report on relations among related entities are contained in the annual report.