Business 3 June 2020, 8:02am

Hungary Richter pays HUF 11.74 billion dividend

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Gedeon Richter, Hungary's leading pharmaceutical producer has announced that is is to pay 11.74 bilion forints as dividend from its 2019 profits. Based on the company's current number of treasury shares, Richter pays HUF 63.06 dividend per share. Calculating with Richter's closing price on the Budapest Stock Exchange on Tuesday this translates into a dividend yield of 0.95%.

Acting in competence of the Annual General Meeting, Richter's Board of Directors approved to pay a dividend of over HUF 11.74 billion in respect of the 2019 business year. The details of the dividend payment process were published by Richter on 14 May, 2020.

Shareholders could have initiated to convene the general meeting by 31 May 2020, and as Richter did not receive such shareholder’s request until the last day of the deadline, the dividends can be paid withoutobstacle.

Richter directly and indirectly owns 184,319 „C" series Richter common shares. The dividend on treasury shares will be distributed to those shareholders eligible for such dividend, in proportion to their number of shares.

Based on the Company's current number of treasury shares, Richter pays HUF 63.0624 dividend per share.