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MTel hopes to pay HUF 25-per-share dividend for 2016

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The management of Magyar Telekom, the Hungarian subsidiary of German telco giant Deutsche Telekom, hopes to pay a HUF 25-per-share dividend on 2016 earnings, officials at the company said this morning during a press briefing, following the publication of the Q4 earnings report late Wednesday, Hungarian news agency MTI reported. 

Late Wednesday the company announced that it would pay a HUF 15-per-share dividend on 2015 earnings. MTI noted that the company has not paid a dividend in the last two years.

CEO Christopher Mattheisen, whose position was extended until 2019 Wednesday, praised the company’s excellent performance this year, adding that due to network development projects, the company is expected to provide high-speed broadband internet connections to 464,000 households instead of the 440,000 originally planned, MTI reported.

The company is aiming to expand coverage by another 500,000 households this year. Summarizing the most important milestones over the last year, the CEO noted that LTE-coverage has grown to 97% and the user numbers of MTel’s 4G network reached one million, MTI reported.

He also said that the company will be focusing on improving the quality of indoor coverage this year. Investments will be scaled back in the coming years with the last phase scheduled for 2017, and investment expenditures will be reduced by 10% in 2016, MTI reported. 

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