Magyar Telekom AGM approves HUF 25-per-share dividend

Telco

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Shareholders of Magyar Telekom (MTel) approved the boardʼs proposal to pay a HUF 25-per-share dividend on last yearʼs earnings at an annual general meeting today, Hungarian news agency MTI reported.

MTel will pay the HUF 26.06 billion dividend from HUF 28.53 bln of net profit, according to Hungarian Accounting Standards. The HUF 2.47 bln of remaining earnings will go into profit reserves.

Payment of the dividend will start on May 23. MTel shares will last trade with the dividend coupon on May 12.

According to International Financial Reporting Standards, MTel had consolidated after-tax profit of HUF 57.22 bln on consolidated revenue of HUF 602.65 bln.

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