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Mol shareholders approve Ft 35 bln dividend on 2005 profits

Shareholders of Hungarian oil and gas company Mol Rt approved at an AGM on Thursday payment of a Ft 35 billion dividend on 2005's after-tax profit of Ft 398.8 billion.

The dividend calculates as Ft 325 per share, but could change slightly depending on the number of treasury shares. Shareholders decided to put the rest of profits into profit reserves.
Mol's pre-tax profit was level with after-tax profit in 2005. Revenue was Ft 1,471.6 billion in 2005, up from Ft 1,171.8 billion in 2004. Operating profits came to Ft 159.8 billion in 2005, improving from Ft 93.5 billion in the previous year.
In 2004, Mol paid a Ft 16.998 billion dividend on after-tax profits of Ft 137 billion.