Poland's Orlen plans to invest 380 billion zlotys by 2035

GDANSK, Jan 9 (Reuters) - Poland’s oil refiner and petrol retailer Orlen aims to invest 380 billion zlotys ($91.5 billion) by 2035, it said on Thursday as it unveiled its new strategy.

That compares with 320 billion zlotys of investments over an eight-year period envisaged in the 2022 strategy.

Orlen said its guaranteed dividend payout in 2025 would increase from 4.30 zlotys to 4.50 zlotys per share, while upholding its policy for an annual increase of 0.15 zlotys per share thereafter.

The company will also have the flexibility to recommend higher dividend payouts of up to 25% of annual operating cash flows, net of financing costs, it said in a press release.

Orlen’s investment objectives over the next decade include meeting 100% of Poland’s natural gas demand through increased production and strategic supply contracts, 4.3 gigawatts (GW) of gas-fired power generation capacity at 1.4 GW of energy storage capacity, it said.

It also aims to develop four offshore wind farms and at least two small modular reactors under the new strategy.

($1 = 4.1528 zlotys)

(Reporting by Rafal W. Nowak and Marek Strzelecki; Editing by Milla Nissi)