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MYTAY Magyar Telekom Telecommunications Plc (PK)

13.845
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Magyar Telekom Telecommunications Plc (PK) USOTC:MYTAY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 13.845 13.04 14.32 91 21:06:11

Magyar Telekom: To Receive EUR16.5 Million in Dividend from Montenegrin Arm

29/05/2015 9:53am

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Magyar Telekom Telecommu... (PK) (USOTC:MYTAY)
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BUDAPEST--Hungary's largest telecommunications firm Magyar Telekom Nyrt. (MTELEKOM.BU)said Friday that the company will receive a dividend payment of about 16.5 million euros ($18 million or HUF5.1 billion) from its Montenegrin arm.

MAIN FACTS:

- Magyar Telekom's Montenegrin subsidiary Crnogorski Telekom A.D. Podgorica held its shareholders' Meeting Thursday and made a decision on a total dividend payment of EUR21.5 million on the financial year of 2014.

- According to Montenegrin Accounting Standards, Crnogorski Telekom made a net income of EUR21.5 million for 2014.

- In line with the decision of the shareholders, the total amount of the net income will be distributed as dividends.

- Magyar Telekom, which has a 76.5% stake in the company, is entitled to a dividend payment of about EUR16.5 million.

- Deutsche Telekom AG (DTE.EXE) holds a 59.3% stake in Magyar Telekom.

Write to Margit Feher at margit.feher@wsj.com

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