Sevastopobloenergo (SMEN: HOLD) To Pay USD 0.44 Mn Of Dividends

Sevastopobloenergo’s AGMdecided to transfer 15% of its 2004 net income in dividends. This amounts to USD 0.0164 dividends per share, or a 3% dividend yield. Concorde Capital: 75% of the company is controlled by VS Energy. The dividend payout ratio of 15% is lower than that of state-controlled companies, which averages around 40%. We maintain our HOLD recommendation on the stock.