Hungary: MOL distributing 2020 dividend

, SEE Energy News

Last year, Hungarian oil and gas company MOL decided not to pay dividends due to falling demand as a result of the coronavirus pandemic. The company has now decided to pay a dividend totalling around 210 million euros to its shareholders for the 2020 business year.

MOL holds a total of nearly 819 million shares, of which 61.6 million are treasury shares, so the total dividend weight is currently divided into approximately 757 million shares, corresponding to approximately 0.28 euros/share. This gives a dividend yield of 4.8 % at the current share value of 5.72 euros/share.

In 2020, MOL achieved EBITDA of more than 2 billion dollars, and although earnings were lower compared to 2019, a quick and timely response to the crisis allowed the compayn to achieve even higher free cash flow than it was anticipated before the pandemic. This was only possible because each activity operated with a positive result, even in a year of major disruptions.

For this year, MOL announced that it will redouble the efforts in order to make progress with business transformation. They expect 2021 to be a year with some normalization and recovery, which supports expectations and EBITDA of 2.3 billion dollars.