DIVIDEND POLICY

Principles of the Management Board policy related to dividend payment in the period of the last 3 financial years

Distribution of profit for the last three financial years was as follows:

Financial year
Generated profit
Part appropriated for payment
Dividend per 1 share
2006/07/08
4 243 tys. zł
879 040
16 grosz
2008/09
2 537 tys. zł
494 460
9 grosz
2009/10
5 533 tys. zł
5 536 000
PLN 1.01 (25% in cash, 75% in bonus shares)

Until 27 December 2006, the Issuer conducted business activity in the form of a limited partnership. Due to this fact, in the company, there was no typical dividend policy applicable for capital companies.


However, the profit generated in the company was paid partly to shareholders and partly was appropriated for the Company's supplementary reserve. The amount of profit for the period from 01 January 2006 to 27 December 2006 amounted to PLN 2,276,502.16, whereas the retained profit of previous years amounted to PLN 250,687.80, i.e. in total it equaled PLN 2,527,189.96. Out of the above amount, the amount of PLN 2,018,258.20 was settled by the share capital of Kredyt Inkaso SA as a result of transformation.


The Management Board policy related to dividend payment in the period of the next 3 financial years

The Company's policy in the scope of dividend continues to be based on the assumption that its amount depends on the amount of obtained financial results and capital needs connected with a purchase of further debt packages and other strategic investments. The Management Board is convinced that in the next years, it will be possible to pay a dividend at least at the level of 1/5 of the generated profit.

Time limits of making decisions about dividend payment


Pursuant to art. 395 §2 item 2 of the Commercial Companies Code, the governing body competent for reaching a decision on profit distribution and dividend payment is the General Assembly. The General Assembly adopts a resolution determining whether and what part of the profit will be appropriated for the dividend payment. Pursuant to art. 395 §1 of the Commercial Companies Code, the General Assembly should be held within six months of the end of a financial year, thus in the case of the Company, until September.
Manner of announcing the information about the procedure of dividend obtaining
Information about the procedure of dividend obtaining is going to be announced in the form of current reports.