MOL’s Annual General Meeting approves 370 million dollars dividend

On Thursday, MOL Plc. held a successful Annual General Meeting in Budapest. Shareholders approved the report of the Board of Directors regarding finances for the year 2017 and approved consolidated financial statements, MOL’s press release said.

Furthermore, the Annual General Meeting acknowledged the work of the Board of Directors performed during the 2017 business year and granted waiver to the Board of Directors and its members.

The General Meeting accepted the Board’s proposal for the distribution of profits through a dividend payment of HUF 94 bn, a significant increase comparing to last year. The base dividend grew by 9% to HUF 85 per share from last year’s HUF 78.125 per share. This demonstrates the continuation of the last years’ gradually increasing trend of the regular dividend payment. Additionally, shareholders approved special dividend proposed by the Board on the back of strong cash flows achieved in 2017. With the special dividend representing a 50% top-up of HUF 42.5 per share, the total dividend per share reached HUF 127.5 for the 2017 financial year.

The Annual General Meeting approved the Board’s proposal for re-election of Mr. Zsolt Hernádi as a member of the Board of Directors. Furthermore, Mr. Zoltán Áldott and Prof. Dr. András Lánczi were elected as members of the Supervisory Board. The shareholders also approved the election of Mr. Csaba Szabó to the Supervisory Board as the employee representative.