MOL board to propose HUF 142.5 per-share dividend

Telco

The board of Hungarian oil and gas company MOL will propose to shareholders payment of a HUF 142.5 per-share dividend on last yearʼs earnings at an annual general meeting on April 11, the company said in a disclosure posted on the website of the Budapest Stock Exchange, state news agency MTI reported.

The dividend fund will amount to HUF 107.3 billion, if the proposal is approved by shareholders.

The dividend comprises a HUF 95 per-share "base dividend" and a HUF 47.5 per-share "top-up." The base dividend is 11.8% higher than that paid on 2017 earnings. The top-up is 50% of the base dividend, as it was a year earlier.

The boardʼs proposal takes into account 2018 earnings, as well as "the strength of the balance sheet, future investment plans and uncertainties of external market conditions." The top-up is intended to share strong free cash flows with shareholders.

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