May 30, 2012 / 10:08 AM / 5 years ago

PKN Orlen cannot afford dividend for now-CEO

PLOCK, Poland, May 30 (Reuters) - Poland's top refiner PKN Orlen should retain its 2011 profits to finance investments but in the future will start paying dividends, Chief Executive Officer Jacek Krawiec said on Wednesday.

"In the light of investment challenges mainly in the energy sector and in the shale gas field, the company cannot afford to pay out a dividend yet," Krawiec told PKN Orlen shareholders meeting. ($1 = 3.4686 Polish zlotys) (Reporting by Pawel Bernat, writing by Gabriela Baczynska)

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