The Board of Directors of Hungarian oil and gas firm MOL Nyrt. (MOL.BU) proposed paying HUF45 billion ($200 million) in the form of dividend after its 2011 profits, the company said Wednesday in a stock exchange filing.

MAIN FACTS:

- This is the first time since 2008 that MOL is paying a dividend.

- The Annual General Meeting, April 26, will decide on paying the dividend.

- MOL's dividend policy is to pay 40% on "normalized earnings" depending on investment activities.

- HUF45 billion as dividend represents more than 2% dividend yield.

- MOL shares closed down 1.9% or HUF350 at HUF 17,750 Wednesday.

-By Budapest Bureau, Dow Jones Newswires; +36-1-267-0622; budapest@dowjones.com

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