Magyar Telekom shareholders tap profit reserves to pay dividend
Shareholders of Magyar Telekom approved the board's proposal to pay a HUF 50-per-share dividend on 2012 profit, tapping profit reserves, at an annual general meeting on Friday. The dividend fund comes to HUF 52.1 billion and includes the company's entire net profit of HUF 30.8 billion as well as HUF 21.3 billion from profit reserves. Payment will start on May 16. The record date for payment is May 9. Magyar Telekom paid out a HUF 50-per-share dividend on both 2010 and 2011 profits. The company dipped into profit reserves to pay the dividend on 2011 earnings, too. Shareholders with 65.41% of voting rights were present at the AGM. Before the start of the meeting, shareholders marked the death of National Media and Infocommunications Authority (NMHH) head Annamária Szalai with a moment of silence. Szalai's death, after a long illness, was announced early Friday.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.