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MTel shareholders approve HUF 25 per-share dividend

Shareholders of Magyar Telekom approved a proposal to pay a HUF 25 per-share dividend on last yearʼs earnings at an annual general meeting on Tuesday, state news wire MTI reported.

The dividend fund comes to HUF 26.1 billion, to be paid from HUF 37.7 bln of after-tax profit. Payment of the dividend will start on May 24. The record date for the dividend is May 15.

Deutsche Telekom holds a 59.21% stake in Magyar Telekom, while other foreign institutional investors hold 20.1%. Domestic natural persons hold 9.45%, and domestic institutional investors 4.1% of the companyʼs shares. MTel is listed in the Equities Prime section of the Budapest Stock Exchange (BÉT).

CFO János Szabó said the company expects to pay a HUF 27 per-share dividend on this yearʼs earnings, "based on the current and projected operating and regulatory environment."