By Margit Feher

BUDAPEST--Shareholders in Magyar Telekom Nyrt. (MTELEKOM.BU), Hungary's largest telecommunications company by market share, approved at an annual meeting on Tuesday the board's proposal for a dividend of 15 forints ($0.05) a share on last year's earnings.

The company, which is majority-owned by Deutsche Telekom AG (DTE.XE), last paid a dividend from its 2012 earnings at HUF50 a share.

Magyar Telekom said in February that it aimed to raise its dividend to HUF25 a share to be paid next year from its 2016 earnings.

Write to Margit Feher at margit.feher@wsj.com

(END) Dow Jones Newswires

April 12, 2016 09:08 ET (13:08 GMT)

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