Hungary: MOL to pay 0.63 euros/share dividend

Published on 26. April 2024., Uncategorized

Shareholders of oil and gas company MOL approved the payment of a dividend of around HUF 250 (0.63 euros) per share at an annual general meeting.

The AGM approved the payment of a HUF 150-per-share base dividend on last year’s earnings and a special dividend amounting to around HUF 100 per share.

The dividend fund comes to about HUF 198 bln.

Chairman-CEO Zsolt Hernádi told shareholders that MOL had successfully faced challenges caused by sanctions and been able to produce and sell its products in the region. MOL’s crude diversification program has achieved “significant results” in terms of flexibility concerning the crude the company procures, he added.

He said extra taxes the company had paid in 2022 and 2023 had added up to USD 3.1 bln, money that “came out of production” even as the company faced increased competition.

Last year, MOL shareholders approved payment of a dividend of around HUF 350 per share, including a HUF 150-per-share base dividend and a special dividend of around HUF 200 per share.