Magyar Telekom board proposes no 2013 dividend

BUDAPEST Thu Feb 27, 2014 6:11am EST

BUDAPEST Feb 27 (Reuters) - Magyar Telekom's board of directors proposes no dividend payment on 2013 earnings, the company said on Thursday, confirming a signal by management issued in December.

The company said the proposal was "in line with the Company's dividend policy of maintaining its net debt ratio (net debt to total capital) within the 30-40 percent range, and reflects the Group's financial position," it said in a statement.

The Deutsche Telekom unit will hold its annual general meeting on April 11. (Reporting by Gergely Szakacs; editing by Jason Neely)

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