MOL shareholders approve HUF 46 bln dividend
Shareholders of oil and gas company MOL approved a proposal to pay a HUF 46 billion dividend on 2012 profit at an annual general meeting on Thursday. The dividend, which works out to about HUF 460 per share, is 25% of net profit excluding one-off factors. Dividend on treasury shares will be distributed among all other shareholders in proportion to their stakes. MOL's net income came to HUF 55.2 billion in 2012, according to the parent company's report, prepared with Hungarian Accounting Standards. MOL shareholders approved payment of a HUF 45 billion dividend, or about HUF 460 per share, on 2011 profits. Net income came to HUF 104.9 billion that year. MOL paid no dividend in the preceding three years because of the acquisition of a stake in Croatian peer INA and because of the global financial crisis. Chairman-CEO Zsolt Hernádi told shareholders on Thursday that the management was committed to paying dividend in future, too, but added that preserving financial stability would remain a priority. Shareholders with 60.61% of voting rights were present at the AGM.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.