Correction to Magyar Telekom Dividend Story
February 24 2016 - 2:41PM
Dow Jones News
"Magyar Telekom Plans Dividend Increase," at 1:41 p.m. EST,
misstated the timing of dividend payments and lacked one
attribution. The corrected text appears below:
BUDAPEST--Magyar Telekom Nyrt. aims to raise its dividend to 25
forints (nine U.S. cents) a share to be paid next year from its
2016 profit, the company said Wednesday as it reported
higher-than-expected fourth-quarter net profit.
The company plans to pay a dividend of HUF15 a share this year
from last year's earnings. The company last paid a dividend from
its 2012 earnings at HUF50 a share.
"Following a turnaround in revenue, margins and lately in
earnings before interest, taxes, depreciation and amortization, we
have returned to positive free cash flow generation in 2015. That
will allow for the resumption of dividend payments," Magyar Telekom
Chief Executive Christopher Mattheisen said in a filing with the
Budapest Stock Exchange.
PICKUP: Fourth-quarter earnings at Hungary's largest
telecommunications provider by market share ....
(END) Dow Jones Newswires
February 24, 2016 14:26 ET (19:26 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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