Odesaoblenergo to pay USD 150 ths in 2007 dividends

At their AGM yesterday, Odesaoblenergo (ODEN: SELL) shareholders decided to make a UAH 753 ths (USD 150 ths) dividend payout, which is 15% of the company’s net income in 2007 (DPS of USD 0.0007, dividend yield of 0.09%). Shareholders also reelected the company’s supervisory board (all members represent the main shareholder, VS Energy, as before). The AGM also approved the decision to issue UAH 500 mln (USD 100 mln) in local bonds. Alexander Paraschiy: The most controversial item on approval of the results ofOdesaoblenergo’s charter fund increase 2.9x via an additional share issue was not on the agenda of yesterday’s AGM. This item is included into agenda of the company’s EGM scheduled for June 6, 2008. But, as the State Property Fund, which owns a 25% stake in Odesaoblenergo, opposes the approval of the charter fund increase, the EGM is unlikely to take place.