Centrenergo to pay tiny but stable dividends for 2010

Centrenergo (UX: CEEN UK) will payout UAH 2.9 mln in dividends (yield less than 0.1%), 30% of net income earned in 2010, following a shareholder voted at an AGM yesterday. Yegor Samusenko: The company suffered from low electricity prices combined with growing coal prices in 4Q10 which ate up its profit from 9M10 and resulted in negligible profit posted at the bottom line for full year. The decision to pay any dividends (namely the 30%) given the tiny profit is connected with the policy mandated by the Cabinet of Ministers for a 30% dividend payout at all companies with a government stake.