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Gold/Mining/Energy : Mosenergo ADR

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To: Copperfield who started this subject	4/27/2004 12:16:40 PM
From: Copperfield	of 241

Mosenergo board of directors recommends dividends for 2003 RosBusinessConsulting. Tuesday, Apr. 27, 2004, 7:43 PM Moscow Time Mosenergo board of directors has recommended shareholders to increase the amount of cash dividends paid by 18 percent to RUR0.01837 per common share, the company reported. The board of directors has recommended to allocate RUR613.127m for cash dividends for 2003. the dividend will be paid to shareholders of record as of May 13, 2004. The annual general meeting of shareholders will be held on June 28, 2004. In 2002 the company allocated RUR519.278m (about $17m) for dividend payments. Mosenergo's net income for 2003 is estimated to increase to RUR1.6bn (about $55m) from RUR646.3m (about $22m) in 2002. Its sales are expected to rise by 32.6 percent to RUR70.3bn (about $2.4bn).

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