Equity management conducted across the Group is performed to protect the Group’s financial security in the process of continuing operations while maximizing the profitability to shareholders, in particular by:
providing access to liquidity for the Group entities and development of effective liquidity distribution structures within the Group;
diversification of sources of external financing and maintaining their long-term maturity, taking into account banking and non-banking sources.
The above actions are performed based on the constant monitoring of:
net financial gearing of the Group – as at 31 December 2019 and as at 31 December 2018 amounted to 6.3% and 15.7% respectively;
net debt to EBITDA ratio before net impairment allowances;
PKN ORLEN rating.
Dividend paid per ordinary shares – depends on the financial position of the Group, including maintaining financial ratios at the safe level. Dividend for the previous years paid in 2019 and in 2018 amounted to PLN 3,5 an PLN 3 per share.