MOL board proposes HUF 55 bln dividend

Telco

The board of Hungarian oil and gas company MOL will propose to shareholders the payment of a HUF 55 billion dividend on last yearʼs earnings at an annual general meeting on April 14, MOL said yesterday.

MOL booked a net loss of HUF 257 bln last year, according to its consolidated IFRS profit and loss statement. Depreciation, depletion, amortization and impairment jumped 134% to HUF 864 bln during the period.

Last year, MOL paid a HUF 50 bln dividend from profit reserves. The dividend worked out to about HUF 485.5 per share.

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