PKN to take on loan to pay 2007 dividend

PLOCK, Poland, June 6 (Reuters) - Poland's top refiner PKN PKNA.WA will need to take out a loan to pay out a $320 million dividend approved by shareholders despite management's call for no cash payout, its chief executive said on Friday.

"The management did not recommend a dividend, but considering that we didn't pay one for the last two fiscal years, this burden is manageable," CEO Wojciech Heydel told reporters at the sidelines of an annual shareholders meeting.

Chief Financial Officer Waldemar Maj said the group would take out a loan for the entire dividend amount of 693 million zlotys ($319.8 million), but added there was little risk it would hurt PKN's credit rating. (Reporting by Patryk Wasilewski, writing by Chris Borowski)