CEZ's dividend record day is same as the day of AGM, which is scheduled on 23 April. Due to suspended settlement between 18 and 23 April, stock trades last cum-dividend today. Hence ex-dividend day is 13 April.
Our view: CEZ didn't proposed any dividend for the moment but as the company announced last year its dividend policy of paying out between 40 to 50% of consolidated net income, we expect DPS of CZK
21 for FY2006. This implies 45% pay-out ratio.