Today is the last day the stock can be traded with dividend and AGM rights. Yesterday the company announced that the proposed dividend is CZK 9/share, which is in line with the announced dividend policy and our expectation of CZK 9–10. Last year the company paid CZK 8/share. CEZ is now focusing on foreign expansion in central and southern Europe. We believe that if the company fails to use all its potential cash for acquisitions it might pay an extraordinary dividend in the future. CEZ is holding its AGM on June 20. The record date for the AGM and dividend rights is June 14. Settlement in the stock will be suspended from 15 to 20 of June.