TVK shareholders approve proposal to pay no dividend on loss-making year
Shareholders of Hungarian chemicals company TVK, a unit of oil and gas company MOL, approved a proposal to pay no dividend on 2011, a loss-making year, at an annual general meeting on Tuesday.
The AGM approved the company's profit and loss statement for 2011 showing a loss of HUF 9.3 billion, according to Hungarian Accounting Standards.
At an AGM a year earlier, MOL rejected the board's proposal to pay no dividend on 2010, another loss-making year, and took close to HUF 2 billion out of the company.
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.