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Keler AGM approves Ft 2.1 bln dividend

Shareholders of the Central Depository and Clearing House Rt (Keler) approved at an AGM on Wednesday payment of a Ft 2.1 billion dividend from 2005's after-tax profit of Ft 2.35 billion, the company announced.

Last year's after-tax profit was sharply up from a planned Ft 1.47 billion, of which Keler planned to pay out Ft 330 million in dividends. Last year Keler paid a Ft 2 billion dividend from 2004's after-tax profit of Ft 2.26 billion.
Revenue from services rose 20% to Ft 3.7 billion instead of a planned 3.3% drop. Operating expenses hardly changed at Ft 2.61 billion although exceeded plans by 2.8%. Operating profit rose sharply as a result, to Ft 2.78 billion from Ft 758 million in 2004, and exceeded the business target by Ft 1 billion.
Keler is owned by the National Bank of Hungary (53.33%), the Budapest Stock Exchange (26.67%) and the Budapest Commodities Exchange (20%).