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High dividend income ensures Corvinus’ quality operations

2024-04-26 16:05:00

On 25 April, Mol and Richter held their annual general meetings on the same day. Both companies have decided to pay dividends for the 2023 financial year. As a result, the Maecenas Universitatis Corvini Foundation will receive a high, but slightly lower than last year's, income from dividend payments from the two companies.
Budapesti Corvinus Egyetem

The Maecenas Universitatis Corvini Foundation will receive a high, albeit lower than last year, dividend income of around HUF 28-29 billion from the companies it partly owns for the 2023 financial year. This revenue will further strengthen the financial basis for the maintenance and development of the University.  

MOL held its Annual General Meeting on 25 April, which decided that in 2024 shareholders will be paid a total dividend of almost HUF 198 billion after the 2023 financial year. This corresponds to around HUF 250 per share, thus the Foundation is expected to receive around HUF 20 billion in dividend income.  

At its Annual General Meeting, Richter Gedeon Plc approved the declaration and payment ofa total dividend of HUF78.8 billion for the 2023 financial year. This corresponds to 423 forints per share. The Foundation is expected to receive nearly HUF 8billion in dividend income from Richter shares.  

The income of the Foundation ensures the conditions necessary for the steady high quality operation of the Corvinus University of Budapest, the long-term development of the University, and the reserves to cover any less successful years.  The University currently has a funding plan until 2030, with a new three-year development period starting this year. 

The Maecenas Universitatis Corvini Foundation maintaining the Corvinus University of Budapest, owns a block of shares of 10% in each MOL and Richter, which were transferred to the trust in 2019. The Foundation currently provides for the operation of Corvinus University mainly through dividends on its shares. The University does not receive any public funding (for performing tasks in the public interest). 

 

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GEN.:2024.05.28. - 23:12:02