MOL Okays Dividend and Share Split
MOL Shareholders in the Annual General Meeting have accepted the Board’s proposal for HUF 58 bn dividend payment, which was set to allow the Dividend Per Share (DPS) to grow by 10.2% to HUF 625 from last year’s HUF 567.
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 current price of one MOL share (around HUF 20,000) is multiple of the share prices of other companies of the BSE premium segment.
A share split generally increases turnover and liquidity, especially if it occurs at a time when a company is financially and operationally stable. A lower price following the share split makes it easier for small shareholders to access and trade MOL shares. The share split will become effective on 1st of September 2017.
Zsolt Hernádi, MOL Group Chairman-CEO, commented on the General Meeting: “We closed today 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."