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Démász to pay Ft 4.74 bln dividend

The board of regional electricity distributor Démász will propose payment of a Ft 4.74 billion dividend from 2004's audited Hungarian Accounting Standards after-tax profits of Ft 5.38 billion, the company announced on the website of the Budapest Stock Exchange on Monday.  

The dividend, which will come up for shareholder approval at an annual general meeting on April 3, translates to Ft 1,280 per share, the same amount paid out on 2004's profits. According to audited International Financial Reporting Standards, Démász had consolidated after-tax profits of Ft 5.37 billion last year on revenue of Ft 88.42 billion.


The AGM's agenda also includes proposed changes to the company's articles of incorporation. The amendments, which are partly technical, include changes to the exclusivity of the AGM's competence, the tasks of board members and the duration of their mandates, as well as the deadline for payment of dividend.