Bank Pekao recommends PLN 19.77 per share – a record PLN 5.2bn payout, payment 11 May 2026

Pekao: PLN 19.77 dividend per share, PLN 5.2bn total payout – a record following a record PLN 7bn profit

The management board of Bank Pekao has recommended a dividend of PLN 19.77 per share from 2025 net profit – a total payout of approximately PLN 5.2bn. The record date is set for 21 April 2026, with payment on 11 May 2026. At the current share price the dividend yield reaches 7.3% – one of the highest in the WIG20 index in 2026.

The other reason this year is exceptional for Pekao is record profit. Bank Pekao's consolidated 2025 net profit reached PLN 7.015bn, versus PLN 6.376bn a year earlier (up 10% YoY) – the highest result in the bank's 95-year history. Combined with the new dividend policy – a management-board resolution of 14 April 2025 earmarking 50–75% of profit for dividends in 2025–2027 – it gives shareholders a visible and predictable passive-income stream.

Poland's second-largest bank, controlled by PZU and the State Treasury

Bank Pekao SA – a joint-stock company with KRS number 0000014843, headquartered in Warsaw in the Mazowieckie voivodeship – is Poland's second-largest universal bank after PKO BP, with assets of around PLN 320bn and roughly 5.5 million retail customers. The shares trade on the WSE under the ticker PEO (ISIN PLPEKAO00016).

The ownership structure is defined by indirect State Treasury control – the main shareholder is Powszechny Zakład Ubezpieczeń (a 20% stake), and PZU itself is controlled by the State Treasury. That means that of Pekao's PLN 5.2bn dividend, about PLN 1bn flows to PZU (and indirectly to the State Treasury), with a further PLN 3bn or so going to investment funds, pension funds (OFE), and retail shareholders. The ownership chain is visible in the "Beneficial owners" section of the bank's profile.

The WIG20's dividend top three: Orlen, PKO, Pekao

The three largest WIG20 payouts of 2026 line up in a stable hierarchy by amount:

• Orlen – PLN 9.3bn (PLN 8.00 per share, record date 18 June, payment 25 June)
• PKO BP – PLN 7.68bn (PLN 6.14 per share, record date 5 August, payment 13 August)
• Bank Pekao – PLN 5.2bn (PLN 19.77 per share, record date 21 April, payment 11 May)

Together, these three companies will pay out PLN 22.2bn of dividends in 2026 – of which approximately PLN 9bn flows directly or indirectly to the State Treasury. That is a contribution comparable to annual CIT receipts from Poland's private companies – and it shows why the government's 2026 budget assumes a 55% increase in state dividend revenue versus 2025.

Three companies, three different stories: Orlen returns to a high dividend after years of small payouts (and is the only fuels-sector name in the top tier), PKO BP maintains a high-payout strategy on record profit, and Pekao – the smallest of the three by amount, but the highest by percentage (a 7.3% yield) – runs the most aggressive capital policy in the sector.

The 2025–2027 dividend policy: 50–75% of profit returned to shareholders

The new April 2025 resolution of Pekao's management board formalises a dividend policy for 2025–2027: the bank commits to distributing at least 50% and no more than 75% of net profit annually, where capital ratios (CET1 plus any KNF-set requirements) allow. At PLN 19.77 per share and PLN 5.2bn in total, against PLN 7bn of profit, the payout ratio for 2026 stands at 74% – almost the maximum the policy allows.

This is an aggressive position, but one justified by the bank's capital strength: the CET1 ratio at end-2025 was approximately 17.5% – comparable to PKO BP, well above the regulatory minimum (8.5%) and the bank's internal targets. After the payout, CET1 will fall by about 1.5–2 pp to the 15.5–16% range – still a comfortable buffer.

“A third consecutive year with a dividend yield above 7% is a rarity in European banking – even during a high-rate cycle. Pekao and PKO BP are now the two Polish blue chips offering shareholders an income stream once reserved for telecoms monopolies and classic utilities. The key question for 2026: how long does this last once the NBP starts cutting rates?”

What it means for the market: record sector payouts in 2026

In aggregate, the Polish banking sector is set to distribute around PLN 15–18bn in 2026 – the most in WSE history. PKO BP (PLN 7.68bn), Pekao (PLN 5.2bn), Santander Bank Polska / Erste Polska (PLN 5.1bn) and Alior (PLN 1.17bn) together already exceed PLN 19bn – while mBank has signalled a return to dividends only in 2027.

The other side of this record is the KNF's capital requirements. Poland's Financial Supervision Authority approved new buffer recommendations for systemically important institutions in January 2026 – and Pekao, as the second-largest Polish universal bank, is required to maintain an O-SII buffer of 0.75% of risk-weighted assets. Even after the dividend, the bank remains within these requirements with a clear margin – confirming that an aggressive payout is possible without compromising solvency.

What you'll find in the Bank Pekao profile

The Bank Pekao SA profile in our database carries the full financial history of the capital group (Pekao Bank Hipoteczny, Pekao Faktoring, Pekao Investment Banking, Pekao TFI), the current management-board composition, and the KRS registry-event history. The "Financial statements" section shows the full income statement – letting you track how net profit grew across 2023–2025 (from around PLN 6bn to PLN 7.015bn) and how the cost-to-income ratio evolved, a key metric for comparison with PKO BP. The "Beneficial owners" section shows the full ownership chain leading from Pekao via PZU to the State Treasury.

Data: Strefa Inwestorów – Bank Pekao communication 6/2026 on the 2025 profit-distribution proposal; Bank Pekao – investor relations; PAP / rp.pl – 2025 financial results; KRS – current readout, as of 2026-05-01.