Magyar Telekom - Finally we reached the inflection point…
We think MTEL has reached and inflection point in shareholder remuneration. From 2022 earnings (!),
the new dividend policy is linked to adjusted profit from which the pay-out ratio will be in the range of
60 -80%. Applying the new dividend policy on this year’s adjusted profit (HUF 51.4 bn vs reported
profit HUF 59 bn) total shareholder pay out would be 31 – 41 HUF per share implying a 7.1 – 9.4%
yield.
From 2021
Magyar Telekom is engaged in the providing fixed line and mobile telecommunication services for public and business customers. Co. provides voice and non-voice (SMS, MMS, internet, data and content provision) within mobile services; voice, data, internet and TV services within fixed line services. In addition, Co. sells equipment needed for using fixed line and mobile services (telephones, tablets, notebooks, TV sets etc.).
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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