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Elmű to propose HUF 1,700-per-share dividend at April 15 AGM

Budapest electricity distributor Elmű will propose a dividend of HUF 1,700 per share at the company's April 15 AGM, Elmu reported on Wednesday.

Elmű will allocate the company's entire 2010 post-tax profit of HUF 7.48 billion and an additional HUF 2.85 billion from profit reserves toward the dividend payment.

Elmű, whose shares trade in the B-category at the Budapest Stock Exchange, paid a dividend of HUF 2,100 per share last year.

Germany's RWE holds 55.25% and EnBW owns 27.25%. State-owned Hungarian Electricity Works MVM holds 15.18% of the shares.