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Mol Group approves dividend and share split

Mol Group held the Annual General Meeting in Budapest, where shareholders approved the report of the Board of Directors regarding finances for the year 2016 and approved consolidated financial statements.

2017-04-14 09:31:25

The General Meeting has accepted the Board's proposal for 58 billion HUF (185.4 million Euro) dividend payment, which was set to allow the Dividend Per Share (DPS) to grow by 10.2 per cent to 625 HUF (1.99 Euro) from last year's 567 HUF (1.81 Euro). This represents the continuation of the last years' gradually increasing trend of the regular dividend payment.

Shareholders also approved the proposal of the Board of Directors for an 8 for 1 stock split. The share split will become effective on 1st of September 2017.

The AGM reelected Jozsef Molnar as a member of the Board of Directors and Attila Chikan and John I. Charody as members of the Supervisory Board. Ilona David, Andrea Bartfai-Mager and Vladimir Kestler were elected as members of the Supervisory Board.

Furthermore, Ivan Miklos, Ilona David and Andrea Bartfai-Mager were elected as members to the Audit Committee. The shareholders also approved the election of Piroska Bognar, Sandor Puskas, Tibor Istvan Ordog and Andras Toth to the Supervisory Board as the employee representatives.

Zsolt Hernadi, MOL Group chairman-CEO, commented on the General Meeting: "We closed a financially and operationally successful year, when we also created the foundation for the company's next decades. In 2017, we will continue to deliver on our targets, generating strong cash flows while already making progress on our transformational journey. The continuation of increasing the dividend payments and the decision to split the shares and making them more accessible for small shareholders strengthen Mol as a best-in-class investment story."

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