Bloomberg News

Magyar Telekom Increases for Second Day After Dividend Proposal

March 23, 2012

Magyar Telekom Nyrt. (MTEL) increased for a second day after the biggest phone company in Hungary proposed a dividend of 50 forint per share from 2011 profit.

The stock advanced 0.9 percent to 575 forint by 10:32 a.m. in Budapest, paring weekly losses to 0.5 percent. The 11-member BUX (BUX) gauge, where Magyar Telekom has a 14 percent weighting, rose 0.4 percent, snapping a four-day selloff.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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