Cesky Telecom: AGM decisive day on April 25 Cesky Telecom holds AGM on April 27, with a decisive day on April 25, implying last trading day with AGM rights on April 20 (standard T+3 settlement). According to company’s internal code, dividend record date is the AGM date, that decides about the dividend, i.e. April 27, unless AGM decides otherwise. However in past couple years, dividend record day was about 14 days after AGM. No official proposal about dividend payout has been so far made. While presenting FY2005 consolidated figures, CZK 45 dividend was raised, implying 8,7% dividend yield (based on Friday’s closing price of CZK 519). We reiterate our Sell recommendation.