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MOL board proposes HUF 127.5 per-share dividend

The board of Hungarian oil and gas company MOL will propose payment of a HUF 127.5 dividend on last yearʼs earnings at an annual general meeting on April 12, MOL was cited as saying on Monday by state news wire MTI.   

The total dividend fund will come to HUF 94.3 billion, taking into account treasury shares, MOL said. 

The board proposed continuing its practice of raising the base dividend by 9% from the previous year, but also proposed sharing free cash flows with shareholders in the form of a 50% top-up. The base dividend of HUF 85 plus the HUF 42.5 top-up adds up to HUF 127.5 per share.

Last year, MOL shareholders approved a HUF 625 per-share dividend from a HUF 58 bln dividend fund. Adjusted for the effect of an 8-for-1 share split last autumn, that dividend would now be worth about HUF 75 per share, MTI noted.