FHB elects new chairman, to pay no dividend
Hungarian mortgage bank FHB's shareholders elected a new chairman and approved the board's proposal to pay no dividend on 2007 earnings, the company said.
Spéder holds a 7.31% stake in FHB and is one of the biggest single shareholders in the bank.
Chief Executive Dániel Gyuris said the company plans to return to paying out 25% of its net profit in dividends next year, state news agency MTI said.
The company's net profit dropped by 30% in 2007 to Ft 5.3 billion on rising costs related to starting up its new commercial banking operations. (Reuters)
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