MOL to propose INA pay EUR 260m extraordinary dividend

Budapest (MTI) – Hungarian oil and gas company MOL on Tuesday said it had requested an extraordinary general meeting of shareholders of Croatian peer INA to vote on a proposal to pay a dividend equivalent to 260 million euros.

MOL’s proposal was published on the website of the Budapest Stock Exchange, without any further details. However, in a statement published on molincroatia.com, the company expanded on the announcement.

“MOL saved INA from bankruptcy, stabilized it financially and turned it into a profitable company with a significant investment potential,” MOL said on the website.

“After the Ministry of Economy’s last decision to revoke the licences for exploration in Sava and North-Western Croatia the shareholders understood that the Ministry is currently not supporting an investment friendly environment in Croatia and therefore the time has come now for all shareholders to realize return of their previous investments,” it added.