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MGYOY Mol Magyar Olay Es Gazipari Rt (PK)

3.828
0.068 (1.81%)
08 Aug 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Mol Magyar Olay Es Gazipari Rt (PK) USOTC:MGYOY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.068 1.81% 3.828 3.75 3.93 3.93 3.75 3.82 20,875 20:59:33

MOL Proposes INA to Pay EUR260 Million Dividend

25/11/2014 8:40pm

Dow Jones News


Mol Magyar Olay Es Gazip... (PK) (USOTC:MGYOY)
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BUDAPEST--Hungary-based Central European oil and gas firm MOL Nyrt. (MOL.BU) requested its Croatian subsidiary INA d.d. (INA.ZG) to call an annual general meeting, where it would propose INA to pay dividend of 2 billion Croatian kunas (EUR260 million) from its retained earnings, MOL said in a stock exchange filing Tuesday.

MAIN FACTS:

- Croatia holds a 44.8% stake in INA and MOL owns a 49.1% share, plus management rights.

- MOL and Croatia are involved in a bribery case in which, in 2012, former Croatian prime minister Ivo Sanader was convicted of accepting bribes while he was in office, to allow MOL to have management rights over INA, according to a Croatian court. MOL has repeatedly said the case was politically motivated and denied all these allegations.

- MOL traded up 2.3% at HUF12,360 at 1348 GMT.

Write to Veronika Gulyas at veronika.gulyas@wsj.com; @VeronikaGulyas1

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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