MOL shareholders approve payment of HUF 55 bln dividend

Telco

Shareholders of Hungarian oil and gas company MOL have approved the boardʼs proposal at an annual general meeting held today to pay HUF 55 billion in dividends on last year’s earnings, a HUF 5 bln increase on last yearʼs dividend, according to a report from Dow Jones Newswires.

MOL shareholders also approved a proposal to reduce the company’s registered equity by HUF 2.09 bln by cancelling roughly 2.1 million treasury shares. Shareholders will not be compensated for the cancellations of shares, Dow Jones said.

During the meeting, shareholders approved the companyʼs 2015 annual report which shows a HUF 190 bln loss, based on Hungarian Accounting Standards, while MOLʼs consolidated net IFRS loss came to HUF 257 bln, according to Hungarian news agency MTI.

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