Press Releases

Budapest, February 24, 2009 13:30

Magyar Telekom' s Board of Directors has reviewed the 2008 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 74 per share (par value HUF 100) for the financial year 2008 for approval to the Annual General Meeting.

The proposed dividend level of HUF 74 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%, while also reflecting the Group's solid financial position and strong cash flow generation in 2008.

Magyar Telekom will hold its Annual General Meeting on the 2nd of April, 2009. The Board of Directors proposes that the record date shall be on the 29th of April, 2009 and the first day of dividend disbursement on the 7th of May, 2009.