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TVK board proposes no dividend

The board of chemicals company TVK Rt said on Monday it will propose shareholders at the April 20 AGM to retain all last year's after-tax profit citing high base material prices.

TVK last paid dividend, of Ft 175 per share, in 1999. TVK CEO Árpád Olvasó said earlier that the company's Ft 65 billion stock of long-term loans would be the main factor the company's board considers when it decides whether or not to propose payment of a dividend on 2005's profits.
According to consolidated IFRS figures, TVK had after-tax profit of Ft 6.41 billion on revenues of Ft 251.41 billion in 2005.