Chernivtsioblenergo To Pay Dividends.
1 June 2008
The AGM of Chernivtsioblenergo (CHEN: N/R) decided to pay 40% of the company’s 2005 net income as dividends (DPS of USD 0.0004, div. yield 0.1%) and approved 2006 plan with net income of USD 0.11 mln (77% growth). Concorde Capital: CHEN remains one of the least efficient energy distribution companies and is beyond our list of investment opportunities. In 2006, we do not expect a significant increase in the company’s profitability (net margin is still planned to be less than 0.2% in 2006). However, the stock may be treated as a promising long-term investment, as the company has a lot of room for improvement.
