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44.1 Share capital
All shares are paid in full.
As at 31 December 2014 and 31 December 2013
| Series/issue | Share type | Type of preference | Type of limitation of right issues | Number of shares | Face value of series/issue (in PLN ) | Capital coverage | Registration date | Right 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 capital | 31 December 2014 | 31 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 reserve | 31 December 2014 | 31 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 sale | 1 January – 31 December 2014 | 1 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 translation | 1 January – 31 December 2014 | 1 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 |
