Poland's KGHM plans dividends of up to one third of profits

Europe's No 2 copper producer KGHM plans to pay out dividends of up to one third of its 2014 annual profit, as it plans to spend 27-billion zlotys ($7.23-billion) to boost output over the next five years, the company said on Monday. The dividend policy of the state-controlled miner is in line with what it signalled last year. KGHM paid out a dividend of 5 zlotys per share which equalled 30% of its 2013 profits.