Elmű, Émász boards propose dividends

Telco

The boards of electricity distributors Elmű and Émász, both majority-owned by Germany's RWE, proposed dividend payments on 2014 earnings yesterday, Hungarian news agency MTI reported.

AGM proposals posted on the website of the Budapest Stock Exchange show the board wants to pay a HUF 1,200-per-share dividend on Elmű's earnings, using the company's entire HUF 3.8 bln of after-tax profit as well as HUF 3.5 bln from profit reserves.

The board proposes paying a HUF 900-per-share dividend to Émász shareholders. If the proposal is approved, the dividend fund will come to about HUF 2.75 bln. The remaining HUF 2.5 bln of earnings will go into profit reserves.

Last year, Elmű paid a HUF 2,650-per-share dividend and Émász's dividend was HUF 2,950 per share.

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