General Meetings and Dividend Payments

Dividend Payment

In April 2016, the Komerční banka General Meeting approved a dividend payment for 2015 of CZK 310 per share before tax. The dividend shall be payable on 23 May 2016 to shareholders registered as holders of Komerční banka shares as of the date of record, which was 15 April 2016. 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.

  2008 2009 2010 2011 2012 2013 2014 2015
Dividend (CZK) * 180 170 270 160 230 230 310 310
Payout ratio (%) ** 52.0 58.7 77.0 64.2 62.6 69.8 91.0 92.4

* Dividend per share before tax
** Dividend/ Earnings per share attributable to shareholders (IFRS, consolidated)

Ordinary General Meeting 22.4.2016

General Meetings

Information duty according primarily to Act No. 90/2012 Coll., Act on Business Corporations, subsections 402 – 403 and 406- 408, Act No. 256/2004 Coll., "on capital markets" subsections 120(1)(d) and 120(2)(a) and Rules of Prague Stock Exchange part VII subsections 6(4)(d) part VI 7(3)(h) and (l).