Magyar Telekom Increases for Second Day After Dividend Proposal

Magyar Telekom Nyrt. (MTEL) increased for a second day after the biggest phone company in Hungary proposed a dividend of 50 forint per share from 2011 profit.

The stock advanced 0.9 percent to 575 forint by 10:32 a.m. in Budapest, paring weekly losses to 0.5 percent. The 11-member BUX (BUX) gauge, where Magyar Telekom has a 14 percent weighting, rose 0.4 percent, snapping a four-day selloff.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.