MOL board proposes HUF 50 bln dividend on 2014 earnings

Telco

The board of Hungarian oil and gas company MOL will propose shareholders receive payment of a HUF 50 bln dividend on last yearʼs earnings at an annual general meeting to be held on April 16, Hungarian news agency MTI said yesterday according to MOL’s announcement.

The boardʼs recommendation is "a continuation of last years’ gradually increasing pay-out trend of the regular dividend payment", according to the announcement.

MOL had a consolidated net income of HUF 4.8 bln last year, an IFRS report published in February shows.

Last year, MOL paid a HUF 60 bln dividend on 2013ʼs earnings. It comprised of a HUF 47 bln regular dividend and a HUF 13 bln top-up from gains on the liquidation of some of its subsidiaries. The dividend per share worked out to about HUF 590.

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