Press Releases

Budapest, February 24, 2011 13:00

Magyar Telekom announces that the Board of Directors has reviewed the 2010 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 for the financial year 2010 for approval to the Annual General Meeting.

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 2010, as well as the impact of the special tax levied on the Hungarian telecommunications sector.

Magyar Telekom will hold its Annual General Meeting on 12th April 2011. The Board of Directors proposes the record date to be on 5th May 2011 and the first day of dividend disbursement on 12th May 2011.