Tomorrow is the last day CEZ trades with dividend rights Today and tomorrow are the last days the stock can be traded with dividend rights. The management dividend proposal is not yet known, but is expected to be announced before June 10, when the stock goes ex-dividend. In line with the announced dividend policy, we expect a dividend of CZK 9 - 10 / share compared to the CZK 8 paid last year. However, there has been speculation of a much higher payment, which according to the free cash flow at the end of 1Q 2005 could reach about CZK 17 / share. CEZ has called its AGM for June 20.