"Magyar Telekom Plans Dividend Increase," at 1:41 p.m. EST, misstated the timing of dividend payments and lacked one attribution. The corrected text appears below:

BUDAPEST--Magyar Telekom Nyrt. aims to raise its dividend to 25 forints (nine U.S. cents) a share to be paid next year from its 2016 profit, the company said Wednesday as it reported higher-than-expected fourth-quarter net profit.

The company plans to pay a dividend of HUF15 a share this year from last year's earnings. The company last paid a dividend from its 2012 earnings at HUF50 a share.

"Following a turnaround in revenue, margins and lately in earnings before interest, taxes, depreciation and amortization, we have returned to positive free cash flow generation in 2015. That will allow for the resumption of dividend payments," Magyar Telekom Chief Executive Christopher Mattheisen said in a filing with the Budapest Stock Exchange.

PICKUP: Fourth-quarter earnings at Hungary's largest telecommunications provider by market share ....

(END) Dow Jones Newswires

February 24, 2016 14:26 ET (19:26 GMT)

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