Today is the last day when the stock can be traded with dividend rights, assuming a T+3 settlement. Philip Morris’s unconsolidated net income reached CZK4.4bn in 2004, which translates into an EPS of CZK 1,606. Assuming a 100% payout, we expect dividends to reach CZK 1,606/share, which translates into a dividend yield of 8.5%. Note that the dividend record day is April 18.