MTel to receive HUF 6 bln in dividends from Macedonian unit

Telco

Magyar Telekom (MTel), the Hungarian subsidiary of German telecom giant Deutsche Telekom, expects to receive dividends of more than HUF 6.18 bln from its Macedonian subsidiary Makedonski Telekom (MakTel), MTel said yesterday.

MakTel shareholders approved a proposal at yesterday’s AGM to pay dividends of MKD 2.26 bln or about HUF 10.9 bln on 2014 earnings, Hungarian news agency MTI said, adding that the company had unconsolidated net profit of MKD 2.26 bln in 2014.

Magyar Telekomʼs 100% subsidiary Stonebridge Communications AD Skopje is entitled to dividends of MKD 1.28 bln (about HUF 6.18 bln), the news agency noted.

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