The board of Hungarian oil and gas company MOL Nyrt. (MOL.BU) will set its 2007 per share dividend by the end of June, business daily Napi Gazdasag reports, citing unnamed sources.
MOL shareholders have already approved, at their annual meeting in April, to pay 85 billion forints ($536.7 million) in 2007 dividend. The dividend per share, however, will depend on how many shares of the company's registered equity MOL's board will deem to be treasury shares as dividends aren't paid on treasury shares.
MOL itself holds some treasury shares and has lent a certain number of shares to other parties, that Austrian peer OMV AG (OMV.VI) labels as "friendly" parties, to help MOL fight off OMV's takeover advances.
Napi Gazdasag notes that Raiffeisen Bank analyst Akos Herczenik expects the dividend at around HUF905 a share and Erste Bank forecasts the amount at HUF895 a share.