Press Releases

Magyar Telekom's Board of Directors announces dividend proposal for 2009 earnings

Budapest, February 26, 2010 12:30

Magyar Telekom's Board of Directors has reviewed the 2009 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 2009 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%. At the same time, it reflects the Group's solid financial position and cash flow generation in 2009, despite the unfavorable operating environment.

Magyar Telekom will hold its Annual General Meeting on 7th April 2010. The Board of Directors proposes the record date to be on 30th April 2010 and the first day of dividend disbursement on 7th May 2010.

About Magyar Telekom
Magyar Telekom is Hungary's biggest provider of telecom services. It provides a full range of telecommunications and infocommunications (ICT) services including fixed line and mobile telephony, data transmission and non-voice as well as IT and systems integration services. The business activities of Magyar Telekom are managed by two business units: Consumer services (the home-related services brand T-Home and the mobile communications brand T-Mobile) and Business services (T-Systems brand). Magyar Telekom is the majority owner of Makedonski Telekom, the leading fixed line and mobile operator in Macedonia and it holds a majority stake in Crnogorski Telekom, the leading telecommunications operator in Montenegro. Magyar Telekom's majority shareholder (59.21%) is MagyarCom Holding GmbH, fully owned by Deutsche Telekom AG.
For further information visit www.telekom.hu.