Philip Morris CR, is holding its AGM today, where dividend from the profits in 2005 is to be approved. The company’s historical payout ratio was 100% of unconsolidated net income. On that basis, the dividend should reach CZK 1,112 per share. In fact, PMCR’s filing to the Deutsche Boerse contains a proposal for a dividend of that amount. As PMCR shares already trade without the right to receive any dividends, we do not expect any impact on the stock price.