Page 9 - EurOil Week 16 2021

EurOil INVESTMENT EurOil

MOL approves HUF100 per

share dividend payout

HUNGARY THE board of Hungarian oil and gas com- MOL’s transfer of 43mn shares may change
pany MOL approved a proposal to pay out a the final DPS, analysts said.
MOL booked a net loss HUF75.9bn (€212mn) dividend on April 15. The board had said it decided to reinstate
of HUF15.9bn last This translates into a dividend per share (DPS) base dividend payments - after putting all of
year. of HUF100, in line with analysts’ expectations 2019 profit into retained earnings because of the
and a dividend yield of 4.9%. MOL did not pay crisis - at a level similar to previous years’ trend,
any dividends in 2020 due to the uncertainties having considered the 2020 results, the strength
surrounding the pandemic. of the balance sheet, future investment plans and
Empowered by a government decree issued uncertainties of external market conditions.
under state-of-emergency powers, MOL’s board MOL booked a net loss of HUF15.9bn last
took the decision on the AGM proposals in lieu year after reporting a net income of HUF223bn.
of shareholders due to the ban on gatherings to It reported a 16% decline in clean ebitda to
contain the spread of the coronavirus. $2.05bn in 2020, but well over the latest guidance
The board approved the consolidated of $1.9bn.
financial statements with a balance sheet total At an online press conference after the
of HUF5.5 trillion and an after-tax loss of meeting, MOL chairman-CEO Zsolt Hernadi
HUF51.7bn. The AGM elected new members to said GDP growth of around 5% is expected in
the board. the company’s key markets this year. Sectors
The company has not yet provided informa- important for MOL, such as tourism, air travel,
tion on the date of the dividend payment but has travel by sea and international commerce, would
previously indicated that it will transfer 43mn recover more slowly.
ordinary shares or a 5.3% stake in the company “We will continue the transformation we
to a new public trust fund called MOL New started in 2016 and we are ready to be the leaders
Europe Foundation. of the circular economy of the region within 10
The state will also transfer 43mn shares to the years,” he added.
foundation worth HUF100bn individually. The MOL will continue its shift to electromobility
foundation may use the proceeds to support cul- services. One out of every 10 petrol stations will
tural, educational and sport projects from yields, feature an EV charger at the end of 2021.
which alone could total HUF8bn-8.5bn a year Hernadi confirmed guidance for full-year
based on HUF100 DPS. ebitda of $2.3bn in 2021. ™

Week 16 22•April•2021 www. NEWSBASE .com P9