By Margit Feher

BUDAPEST--Hungarian oil and gas company MOL Nyrt.'s (MOL.BU) shareholders approved on Thursday 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.

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