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In accordance with the resolution of Magyar Telekom’s Annual General Meeting held on April 12, 2022, the Company will pay its shareholders a total dividend of HUF 15,000,000,000 from the profit of 2021. The Company distributes the dividends for its own shares, among the shareholders who are entitled for dividends, hence the actual amount of gross dividend per ordinary Magyar Telekom share (ISIN number: HU0000073507) for the business year 2021 shall be HUF 15.05. Dividend payment started on May 10, 2022. The record date related to the dividend payment is April 29, 2022. Shareholders shall be entitled to dividend who own Magyar Telekom shares at the record date and requested to be registered in the Share Register of the Company. The last day when shares can be bought on the Budapest Stock Exchange that will be entitled to the dividend paid for the 2021 business year is April 27, 2022. In line with the lapse period specified in the Civil Code the dividend for the business year 2021 can be collected for a further 5 years, starting from the first day of the dividend payment (i.e. not later than May 10, 2027).
Announcement regarding the dividend payment for business year 2021
On February 23, 2022 Magyar Telekom announced that following a review of
financial statements for 2021, its Board of Directors has proposed a total
shareholder remuneration, constituting a dividend payment and share buybacks,
of up to
HUF 29.6 billion to be paid in 2022.
The Board of
Directors decided on setting a new shareholder remuneration policy for the
2022-2024 period. The policy envisages growth in annual shareholder
remuneration as a combination of dividend payments and share buybacks in line
with improvements in the Company’s financial performance. Going forward, the
total value of annual shareholder remuneration is expected to be between 60% and
80% of the Company's annual adjusted “profit attributable to the owners of the
parent” (adjusted net income) generated during the preceding financial year. Magyar Telekom
will hold its Annual General Meeting (“AGM”) on April 12, 2022. The Board of
Directors has also reviewed and proposes for approval to the AGM the separate
financial statements of Magyar Telekom Plc. for 2021 and the consolidated
financial statements of Magyar Telekom Group prepared in accordance with IFRS. Given
the improving profitability and free cash flow generation, the Board of
Directors believes that a year-on-year increase in total shareholder
remuneration to up to
HUF 29.6
billion is justified. Consequently, it proposes for approval to the AGM a total
dividend payment of HUF 15.0 billion for the 2021
financial year. Furthermore, the Board envisages the value of the buyback to be
up to HUF 14.6
billion. The execution of the buyback is subject to the necessary authorization
of the AGM.
The Company will publish the detailed announcement on the
dividend disbursement following its AGM on April 25, 2022. Based on the
number of outstanding shares (excluding treasury shares) as of today, the cash
dividend amounts to an equivalent of HUF 15.05 per share.The dividend paid to shareholders
entitled to receive a dividend on the record date will be 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 on the record date.
Magyar Telekom’s
Board of Directors approves shareholder remuneration policy for 2022-2024
| Business year |
Gross dividend per ordinary share |
Payable date | Record date | |
| 2019 | HUF 20.17 | June 17, 2020 | June 8, 2020 | Details |
| 2018 | HUF 25.21 | May 24, 2019 | May 15, 2019 | Details Details |
| 2017 | HUF 25.13* | May 25, 2018 | May 15, 2018 | Details Details |
| 2016 | HUF 25 | May 23, 2017 | May 12, 2017 | Details |
*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.