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Hungary: Émász board proposes HUF 5.5 bln dividend

  The board of electricity distributor for northern Hungary Émász will propose to shareholders payment of a HUF 5.5 billion ($25.4 million) dividend on 2008 profits at an annual general meeting on April 28, the AGM invitation published on the website of the Budapest Stock Exchange on Friday shows.

The dividend works out to HUF 1,800 per share. The board will propose placing the remaining HUF 1.4 billion of the company’s HUF 6.9 billion in after-tax profit into profit reserves.

Émász’s audited balance sheet shows total assets of HUF 125.6 billion on December 31, 2008. Émász is owned by German utilities giant RWE-EnBW. (MTI-Econews)