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Hungary’s INA to consider HRK 15 per share dividend

Hungary’s INA to consider HRK 15 per share dividend

BUDAPEST: The management of Croatian oil and gas company INA,  a subsidiary of Hungarian oil and gas company MOL, is proposing that the payment of a HRK 15-per-share dividend be drawn from retained earnings, to the tune of HRK 150 million (€19.8 million), Hungarian news agency MTI reported yesterday.

“This payment has been proposed to demonstrate the strength of the Company even in the challenging environment as well as to provide return to the investors thus reinforcing their confidence,” the management said. The proposed dividend “will not jeopardize financing of future projects nor will it have a significant impact on the strong financial position and net debt levels”, it added. INA reported a net loss of approximately HRK 1.9 billion in 2014.