December 7, 2011 / 2:07 PM / in 6 years

KGHM sees dividend near 30 pct suitable for 2011

LUBIN, Poland, Dec 7 (Reuters) - Europe’s No.2 copper producer KGHM believes a dividend payout towards the bottom of its policy range would be wise after it agreed a C$3 billion ($2.96 billion) takeover of Canadian rival Quadra FNX, its CFO said on Wednesday.

“Dividend policy for 2011 still holds within the range of 30-50 percent of profit,” KGHM’s Maciej Tybura told a news conference. “Thirty percent would be of no financial problem for the company, and with this level of investment a dividend payout closer to 30 percent would be better for KGHM.”

KGHM chief executive Herbert Wirth said the price KGHM offered for Quadra is final, adding there were others interested in the Toronto-listed company. ($1 = 1.0133 Canadian dollars) (Reporting by Wojciech Zurawski; writing by Adrian Krajewski; Editing by Will Waterman)

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