Home | Financial results | Additional information and notes | 44. Issued share capital and other equity attributable to the equity holders of the parent entity

44. Issued share capital and other equity attributable to the equity holders of the parent entity

44.1 Share capital

All shares are paid in full.

As at 31 December 2014 and 31 December 2013

Series/issueShare typeType of preferenceType of limitation of right issuesNumber of sharesFace value of series/issue (in PLN )Capital coverageRegistration dateRight to dividend (since)
A registered none none 4,011 4,011 cash 23.01.1997 27.12.1991
A bearer’s none none 60,442,309 60,442,309 cash 23.01.1997 27.12.1991
B bearer’s none none 25,905,980 25,905,980 contribution in kind 31.03.1999 01.01.1999
Total number of shares 86,352,300
Total share capital 86,352,300

The shareholding structure of PZU and information on transactions regarding significant packages of PZU shares are presented in Note 3.

44.1.1. Appropriation of profit of the parent entity

As regards the distributable profit for 2014 and the preceding years, only the profit disclosed in the separate financial statements of the parent entity, drawn up in accordance with the Polish Accounting Standards, is subject to distribution.

44.1.1.1. Appropriation of profit for 2013

On 13 May 2014, the Management Board of PZU adopted a resolution concerning the appropriation of profit for the 2013 financial year, recommending payment of dividend of PLN 4,663,024 thousand, i.e. PLN 54 per share.

On 13 May 2014, the request of the Management Board of PZU was approved by the Supervisory Board of PZU and presented to the Annual General Meeting for consideration. On 17 June 2014, the Annual General Meeting of PZU decided on the distribution of the net profit for 2013 in the amount of PLN 5,106,345 thousand in the following manner:

  • PLN 4,663,024 thousand for the payment of dividends to shareholders, i.e. PLN 54 per share;
  • PLN 433,321 thousand for the supplementary capital;
  • PLN 10,000 thousand for the Company's Social Benefits Fund.

Given the advance payment made on 19 November 2013, towards the dividend expected at the end of 2013 in the amount of PLN 1,727,046 thousand, i.e. PLN 20.00 per share, the remaining part of the dividend payable in 2014 amounted to PLN 2,935,978 thousand, i.e. PLN 34.00 per share.

The ex-dividend date for the remaining dividend was set for 17 September 2014. The dividend payment date was set as follows:

  • PLN 1,467,989 thousand, i.e. PLN 17 per share was paid on 8 October 2014;
  • PLN 1,467,989 thousand, i.e. PLN 17 per share was paid on 15 January 2015;

44.1.1.2. Appropriation of profit for 2014

By the date of signing of consolidated financial statements, the Management Board of PZU had not adopted a resolution concerning appropriation of profit for 2014.

44.2 Supplementary capital

Supplementary capital31 December 201431 December 2013
Share premium 538,139 538,139
Division of results of the PZU Group entities 9,070,903 8,270,646
Other 69,879 47,214
Total supplementary capital 9,678,921 8,855,999

44.3 Revaluation reserve

Revaluation reserve31 December 201431 December 2013
Measurement of available-for-sale financial instruments 127,260 118,785
Property reclassified from property, plant and equipment to investment property 121,283 123,512
Total revaluation reserve 248,543 242,297

Changes in revaluation reserve due to revaluation of financial instruments available for sale1 January – 31 December 20141 January – 31 December 2013
Opening balance 118,785 238,886
Changes 8,475 -120,101
- change in fair value 11,931 174,973
- sale -3,456 -295,074
Closing balance 127,260 118,785

44.4 Exchange differences from translation

Exchange differences from translation1 January – 31 December 20141 January – 31 December 2013
Opening balance -37,737 -38,004
Changes in the period: 2,287 267
Lietuvos Draudimas AB 6,164 -
AAS Balta 5,043 -
PZU Ukraine -5,519 -357
PZU Ukraine Life -4,472 -306
Pozostałe 1,071
Closing balance -35,450 -37,737