Agora management has proposed raising this year’s dividend to PLN 1.5 per share, from the usual PLN 0.5, and recommended cancelling the share buyback plan for this year. Our view: We view the news positively, but do not expect any major price reaction. The dividend yield stands at 3.44%. The profit distribution, which would be approved by the company AGM on 29 June 2007, falls in line with our expectation, as we anticipated PLN 0.5 in dividend and equivalent of PLN 1.0 in share buyback.