The Board of Directors of Hungarian oil and gas group Mol has decided to raise last year’s dividend by 10% to 58 billion forints. The Annual General Meeting will make a call on the proposal on 13 April.
Mol’s Board of Directors made the following decision regarding the 2017 Annual General Meeting on its meeting held on 13 March:
- as a continuation of the previous years’ trend of gradually increasing dividend payments, the Board proposes to set a dividend payment that would allow the Dividend Per Share (DPS) to grow by 10% to HUF 625 from last year’s HUF 567. This would correspond to a total dividend payment of HUF 58,006,955,625 paid for the financial year 2016 - taking into account the expected number of treasury shares at the record date.
Last year Mol paid HUF 55 bn in dividend. From its 2014 profits it paid HUF 50 bn in dividend, which corresponded to HUF 485.49 dividend per share.
Mol also announced in a statement on the website of the Budapest Stock Exchange (BSE) that its AGM was called for 13 April. The agenda of the meeting include closing of the 2016 business year, amendment of the Articles of Association, election of members into Mol’s Board of Directors, Supervisory Board and Audit Committee and amendment of par value of "A" series shares.