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