Polish Cyfrowy plans dividend payouts from 2015

WARSAW Thu Jan 23, 2014 5:47am EST

WARSAW Jan 23 (Reuters) - Poland's largest media group Cyfrowy Polsat plans dividend payouts of between 33 and 66 percent of its stand-alone profits starting from 2015 if it cuts debt below 2.5 times its core profit, it said on Thursday.

The group said last year that the ongoing process of buying local mobile operator Polkomtel will raise its ratio of net debt to core profit to 3.1 times from 1.78 times.

The group earlier said it aimed to pare the ratio back to 2.5 by the end of 2016, when it planned to consider resuming dividend payouts. (Reporting by Adrian Krajewski)