Richter shareholders approve HUF 33-per-share dividend

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Shareholders of drugmaker Gedeon Richter approved payment of a HUF 33-per share dividend on last yearʼs earnings at an annual general meeting yesterday. The HUF 6.15 bln dividend will be paid from Richterʼs after-tax profit of HUF 19.11 bln, calculated according to Hungarian Accounting Standards.

The remaining HUF 12.96 bln will be placed into profit reserves. The boardʼs dividend proposal was in line with the companyʼs practice of returning one-fourth of IFRS after-tax profit to shareholders. Last year, Richter shareholders approved a HUF 57-per-share dividend on 2013 earnings. CEO Erik Bogsch told shareholders that two of the preparations the company is developing have reached a phase that could lead to the start of their registration within a year.

He said Esmya, Richterʼs unique drug for the treatment of uterine fibroids, would be a “key product” in the companyʼs future. He noted that the European Medicines Agency had recently adopted a positive opinion on long-term treatment with the drug, on the basis of which the European Commission is expected to amend the EU marketing authorization for it within two months.

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