OPG is holding its AGM today in Luxembourg

The dividend proposal stands at EUR 0.6 per share to be paid either in cash or shares. The implied dividend yield is 1.4%. The dividend payment is above our expected EUR 0.54/share. The AGM decisive date was on April 21. The stock goes ex-dividend on April 29. The trade day is decisive for receiving dividends (April 28). The Orco CEO said in February that the company plans to raise the dividend payment by 15% to 20% annually over the next two to three years and thus almost double its dividends (from the EUR 0.45 paid last year to EUR 1 in 2008).