Komerční banka's General meeting approves dividends for 2014 at CZK 310 per share

Press release

Prague, 23 April 2015 – 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 2014 at CZK 310 per share.

The share of profit proposed for distribution in dividends totals 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 16 April 2015. The dividends shall fall due on 25 May 2015.

The General Meeting also approved the Board of Directors’ Management Report (‘report on the bank’s business activity and its assets’) for 2014 in the wording submitted by the Board of Directors. The Management Report is part of the bank’s Annual Report for 2014.

The General Meeting also approved the annual financial statements and the consolidated financial statements for 2014. These financial statements are part of the bank’s Annual Report for 2014.

Upon the Nomination Committee’s proposal, the General Meeting elected Mrs Sylvie Rémond, Co-Head of Coverage and Investment Banking, Société Générale Corporate and Investment Banking, and member of SG’s Group Management Committee, to the Supervisory Board.

In compliance with the law, the shareholders have renewed the 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. as the external auditor of Komerční banka for 2015.

The General Meeting also decided on an amendment to the bank’s Articles of Association, which was necessitated by an amendment to the Banking Act, the CNB’s Regulation 163/2014 on the activities of banks, credit unions and investment firms, and an amendment to the Act on Auditors.

On the basis of the requirements of the Banking Act and the CNB’s Regulation 163/2014, the General Meeting approved the ratio between the variable and fixed components of remuneration for members of the Board of Directors and Investment Banking employees, which can range from 0 to 200% of the fixed component of remuneration.