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Nordtelekom: no dividend this year

The shareholders of Hungarian internet, cable television and telephone service provider Nordtelekom approved at the company's April 30 AGM the board's proposal to pay no dividend this year, Nordtelekom reported on Saturday.

Nordtelekom posted net profit of HUF 4.6 million in 2010, up from net profit of HUF 1.4 million in 2009, according to data calculated pursuant to Hungarian According Standards. Net sales revenue rose to HUF 264.3 million in 2010 from HUF 32.2 million in 2009.

Beltav Belvarosi Tavkozlesi Tarsasag (Beltav Center City Telecommunications Company) owns 57.66% of Nordtelekom, while Scandinavian Ltd owns 21.31%, the Dr Nagy Attorney's Office owns 10% and small shareholders own the remaining 11.03%.

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