Magyar Telekom (Reuters:
MTEL.BU and Bloomberg: MTELEKOM HB), the leading Hungarian telecommunications
service provider, announces that the Board of Directors has reviewed the 2011
annual reports of Magyar Telekom Plc. prepared in accordance with Hungarian
Accounting Rules (HAR), and those of Magyar Telekom Group prepared in
accordance with IFRS, and proposes them for approval to the Annual General
Meeting. The Board of Directors also proposes a dividend payment of HUF 50 per
share (face value HUF 100) for the financial year 2011 for approval to the
General Meeting.
Magyar Telekom’s Board of Directors announces dividend proposal for 2011 earnings
2012. 02. 23. 12:00:53
The proposed dividend level of
HUF 50 per share is in line with Magyar Telekom’s dividend policy of
maintaining its net debt ratio (net debt to net debt plus total equity) within
the targeted range of 30-40%. At the same time, it reflects the Group’s
financial position and cash flow generation in 2011, as well as the impact of
the special tax levied on the Hungarian telecommunications sector.
Magyar Telekom will hold its
Annual General Meeting on 16th April 2012. The Board of Directors proposes the
record date to be on 8th May 2012 and the first day of dividend disbursement on
15th May 2012.
This investor news contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Report on Form 20-F for the year ended December 31, 2010 filed with the U.S. Securities and Exchange Commission.
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