Hungarian public companies are paying 548 million euros of dividend
Public companies are soon beginning to pay dividend from last year’s profit. If the general assemblies approve, shareholders can receive more than 170 billion forints (548 million euros) worth of dividends, portfolio.hu writes.
Hungarian public companies are beginning to release their proposals which reveal how much dividend companies are paying. With the highest dividend stocks, even 5-6pc dividend yield can be reached, which is especially attractive in the current low interest rate environment.
MOL pays the biggest dividend with 58 billion forints (186 million euros), followed by OTP with 53.2 billion (171 million euros), Magyar Telekom with 26 billion (83 million euros), and Richter with 19.8 billion forints (63 million euros).
As for dividend yield, the traditional distributing shares are at the top. Nyomda has a dividend yield of 6.3pc, Émász 6.2pc, and Elmű 6pc. Telekom has a dividend yield of 5.1pc calculated with 25 forints per shares, and in the low interest rate environment, the 3.1pc dividend yield of MOL shares produces relatively good results as well.
Hungary Trends – The previous week in business and finance
So far, Hungarian public companies are paying 173 billion forints (548 million euros) in dividend this year, which is the second highest sum since 2006. The record-holding year is 2008 when 203 billion forints (653 million euros) worth of dividend was paid. The current sum in not final as FHB, Opimus, and Zwack have not yet announced how much they will be paying.
Looking at the recent trends, Magyar Telekom has been lagging behind MOL and OTP since the financial crisis. The company didn’t pay any dividend for years due to the changed operating environment and special taxes. The dividend of MOL has been consistently around 50-60 billion forints in recent years, it even rose during the past two dividend payments, and OTP has been doing well enough to raise their dividend continuously since 2011.
Ce: bm
Source: portfolio.hu
