Komerční banka’s General Meeting approves dividends for 2015 at CZK 310 per share

Press release

Prague, 22 April 2016 – At their General Meeting today, Komerční banka’s shareholders voted to confirm the proposal of the bank’s Board of Directors for the approval of the profit for distribution to shareholders (dividends) for 2015 at CZK 310 per share.

The proposed dividends total CZK 11,783,054,120. Dividends per share amount to CZK 310 before tax. The dividends can be claimed by every shareholder holding shares of Komerční banka, a.s., with ISIN CZ0008019106, as at 15 April 2016. The dividends shall fall due on 23 May 2016.

The General Meeting also approved the Board of Directors’ Management Report (‘report on the bank’s business activity and its assets’) for 2015 in the wording submitted by the Board of Directors. The Management Report is part of the bank’s Annual Report for 2015.

The General Meeting also approved the annual financial statements and the consolidated financial statements for 2015. These financial statements are part of the bank’s Annual Report for 2015.

Upon the Nomination Committee’s proposal, the General Meeting elected Mr Bořivoj Kačena to the Supervisory Board and to the Audit Committee.

In compliance with the law, the shareholders have renewed Komerční banka’s authorisation to acquire its ordinary treasury stock, including the conditions for its potential acquisition.

The General Meeting has appointed Deloitte Audit, s.r.o. again as the external auditor of Komerční banka for 2016, including Komerční banka’s branch located in Slovakia.

The General Meeting also decided on an amendment to the bank’s Articles of Association; part of the amendment is share splitting at a ratio of 5:1, i.e. the number of shares will be increased through splitting the existing shares. The current shareholders will receive five new shares in exchange for one existing share with a nominal value of CZK 500, and the nominal value of each share will be CZK 100.

On the basis of the requirements of the Banking Act and the CNB’s Regulation 163/2014, the General Meeting approved the maximum ratio between the variable and fixed components of remuneration for the employees of the departments that are responsible for material investment activities, which can range from 0 to 200% of the fixed component of remuneration and may not exceed 200% of the fixed component of their remuneration for any employee.