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Kulcs-Soft to pay dividend of HUF 24 per share on 2010

The board of IT company Kulcs-Soft proposes to pay out HUF 144 million in dividends, or HUF 24 per share, on 2010, using part of profit reserves, the AGM proposals published on Tuesday reveal.

The company will use its entire 2010 after-tax profit of HUF 133.6 million and HUF 10.4 million in profit reserves to pay the dividend.

Kulcs-Soft paid HUF 120 million, or HUF 20 per share, in dividends, partly from profit reserves, last year.

Kulcs-Soft had revenue of HUF 862 million in 2010, up 15% from 2009. Operating profit increased 57.3% to HUF 144 million in 2010, while after-tax profit rose 37.4% last year.

The company's 2011 business plan calls for revenue of HUF 1.14 billion and operating profit of HUF 195 million.

Kulcs-Soft shares trade in the B-category at the Budapest Stock Exchange.