Richter board proposes HUF 660-per-share dividend

Telco

Shareholders of Hungarian drugmaker Gedeon Richter approved a proposal to pay a HUF 660-per-share dividend on 2011 profits at an annual general meeting on Thursday.

The dividend fund comes to HUF 12.2 billion. The remaining HUF 66.9 billion of after-tax profit will go into profit reserves.

Last year, shareholders approved payment of an HUF 860-per-share dividend on 2010 profit.

Summarizing the year for shareholders, CEO Erik Bogsch highlighted the company's excellent performance on the Russian market, turnover of women's health products in the European Union and the expansion of the product portfolio. He added that the company's success on the European market showed Richter was heading from being a regional multinational in the direction of becoming a European multinational.

He said the regulatory environment in Hungary continued to create a difficult situation for the country's drugmakers.

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