Shareholders of Magyar Telekom approved a proposal to pay a HUF 50-per-share dividend on 2010 profits at an annual general meeting on Tuesday.
The dividend adds up to HUF 64.9 billion. The remaining earnings of HUF 12.8 billion will be put into profit reserves.
The company said earlier the proposed dividend is in line with Magyar Telekom’s dividend policy of maintaining its net debt ratio in the 30%-40% range. At the same time, it reflects the company’s consolidated financial position and cash flow generation in 2010 as well as the impact of a crisis tax levied on telecommunications companies, the company said.
Last year, Magyar Telekom paid HUF 74 per share on 2009 profit.
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