MOL Board Recommends Paying HUF45 Billion Dividend On 2011 Profit
April 04 2012 - 12:30PM
Dow Jones News
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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