Notes to the financial statements

16. Dividends

On June 28th 2010, the General Shareholders Meeting of Grupa LOTOS S.A. adopted Resolution No. 6 concerning distribution of the Company’s net profit for 2009. Pursuant to the resolution, the Company’s net profit for the year ended December 31st 2009, totalling PLN 591,327 thousand, was applied as follows:

  • PLN 590,327 thousand was transferred to the Company’s statutory reserve funds,
  • PLN 1,000 thousand was transferred to a Special Account to finance corporate social responsibility (CSR) projects.

In these consolidated financial statements, the Company presented profit after distribution under retained earnings. In addition, the allocation of profit to the Special Account was recognised as an expense in the year ended December 31st 2010 and presented under short-term provisions.

As at the date of publication of these consolidated financial statements, the Management Board of the Company has not yet adopted a resolution on distribution of the profit for 2010.

This is a translation of a document originally issued in Polish
The notes to the financial statements, presented on following pages, are their integral part.

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