Investor News
Magyar Telekom’s Board of Directors’ announcement regarding 2017 dividend
Budapest, February 21, 2018 10:00
Magyar Telekom (Reuters: MTEL.BU and Bloomberg: MTELEKOM HB,hereinafter “Magyar Telekom” or the “Company”), the leading Hungarian telecommunications service provider, announces that the Board of Directors has reviewed the 2017 financial statements of Magyar Telekom Plc. as a parent company 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 25 a share for the business year 2017 for approval at the Annual General Meeting.
The Company’s dividend
policy seeks to maintain its net debt ratio (net debt to total capital) within
the 30-40% range, whilst also taking into account the Group’s future financial
position.
Magyar Telekom will hold its Annual General Meeting on April 10, 2018.
The
Board of Directors proposes the record date of the dividend payment to be on
May 15, 2018 and the first day of dividend disbursement on May 25, 2018. The
actual amount of dividend paid to shareholders is calculated and paid based on
the Company's Articles of Association, so the Company distributes the dividends for its
treasury shares among the shareholders who are entitled for dividends.
This
investor news may contain 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 Reports for the year ended
December 31, 2016 available on our website at https://www.telekom.hu.