Press: Finance minister wants ČEZ to pay last year’s entire profit to shareholders

Finance Minister Andrej Babiš wants Czech state-controlled owned energy firm ČEZ to pay all of last year’s profit to its shareholders, the daily Hospodářské noviny reported on Monday. ČEZ posted a net profit of 35.2 billion crowns in 2013. The Czech state, which owns a near 70-percent stake in the firm, would receive around 25 billion crowns, some 10 billion more than the year before. In recent years, ČEZ paid out between 40 and 45 percent of its profits in dividends to shareholders. Mr. Babiš’ plan is to be discussed by coalition parties; a spokesman for the company said the decision was up to shareholders.

Author: Jan Richter