Yesterday the AGM of Richter
has approved the HUF 690 per share dividend proposal of the Board of Directors. Dividends will be payable on 18 June 2007. The shares go ex-dividend on 7 June 2007.
Our view: We see the news as neutral as the approved dividend is in-line with our expectations. The dividend implies a 25.9% dividend payout ratio and a 1.7% dividend yield.