By Margit Feher

BUDAPEST--Hungarian oil and gas company MOL Nyrt.'s (MOL.BU) shareholders on Thursday approved to pay out 50 billion forints ($178.5 million) in dividends after the company's 2014 results.

All shareholders present unanimously approved the dividend payment.

That's down from a dividend payment of HUF60 billion after the firm's 2013 earnings.

MOL's consolidated net profit totaled HUF4.08 billion last year. Consolidated operating cash flow was HUF434.53 billion last year, down from 614.69 billion a year earlier.

MOL's strong financial position makes it possible to pay a dividend that could reach HUF500 a share, the company's Chief Executive Jozsef Molnar told shareholders.

"We are planning to provide in the future as well a predictable and possibly rising dividend," the executive added.

MOL expects that oil prices will hover around $60 a barrel over the course of the year and that oil and product market development will be similar to the second half of 2014, Chairman and Chief Executive Zsolt Hernadi said at a press conference after the shareholders' meeting.

"The developments of the first quarter underpin that," Mr. Hernadi added.

The company is cash-strong and financially stable thus "there's a possibility to carry out acquisitions," Mr. Hernadi said.

Should sanctions be removed on Iran as a result of the recent preliminary deal between Iran and world powers led by the U.S. over Tehran's nuclear program, MOL "would like to turn up in the region since it already has significant geological reserves in the vicinity," he said.

MOL conducts exploration in Iraq and production activities in Syria.

On downstream expansion plans, the firm also wants to reach new consumers with its products like in recent years with purchasing filling stations, Mr. Hernadi said.

As for Croatian refinery INA, MOL is currently "in no talks whatsoever" with the Croatian government about the company's future, Mr. Hernadi said.

MOL, which owns a 49.1% stake and holds management rights in INA has been in a spat with the Croatian government for years, which holds a 44.8% stake in the refinery.

Write to Margit Feher at margit.feher@wsj.com; Twitter: @margitfeher