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Magyar Telekom board proposes HUF 15 bln dividend

Telco

The board of Magyar Telekom (MTel) will propose to shareholders payment of a HUF 15 billion dividend on last year's earnings at an annual general meeting scheduled for April 12, according to the proposals posted on the website of the Budapest Stock Exchange.

The dividend will be paid from MTel's 2021 after-tax profit of HUF 54.5 bln.

The remaining HUF 39.5 bln will go into retained earnings.

MTel first said the board would propose the HUF 15 bln dividend when it published fourth-quarter earnings in February.

Minority shareholders have submitted a proposal to pay a HUF 25 bln dividend on 2021 earnings.

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