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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (1342)	3/27/1998 12:33:00 PM
From: Steve Fancy	Respond to of 22640

Subject: Re: Hello/TBR Date: Fri, 27 Mar 1998 13:41:07 -0300 From: Michael in Brazil To: smfmlf@centuryinter.net Have been reading SI, I guess I should log on- maybe Monday. Anyway, FYI Telebr s is having their Stockholder Meeting on April 7th to approve accounts and dividend amount also Tbr will trade x dividend as of April 8th. Payment of dividends should be as usual in June and estimated to be R$1,878 or + - US$1,65. This is the local news. This was already absorbed by the market - the good news is the B Band bidding restarting on Monday and Motta returning on Sat. Michael

To: Steve Fancy who wrote (1342)	3/27/1998 12:39:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Central Bank lowers reais mini-band SAO PAULO, March 27 (Reuters) - Brazil's Central Bank lowered its mini-band on the real currency by buying dollars at 1.1360 and selling at 1.1410 reais per dollar in the commercial foreign exchange market, dealers said. biz.yahoo.com

To: Steve Fancy who wrote (1342)	3/27/1998 12:45:00 PM
From: Steve Fancy	Respond to of 22640

Brazil shares seen upbeat, eyes on cash flows SAO PAULO, March 27 (Reuters) - Brazilian stocks looked set for another upbeat session Friday, aided by rises in most European bourses and a relatively calm trade in Asian stock markets, brokers said. <snip> Traders said there were little fresh news to look at, but progress in Brazil's telecommunications privatization program combined with expectations of further steep cuts in domestic interest rates should boost share prices. <snip> biz.yahoo.com

To: Steve Fancy who wrote (1342)	3/27/1998 12:51:00 PM
From: TOPSID877	Read Replies (1) \| Respond to of 22640

Response TBR Div questions: Lorival da Souza responded to my questions on TBR X-Div date and its amount. "Annual Shareholders Meeting to be held on April 1998 will deliberate on a net dividend of R$ 1.878 per ADR for the year ended December 31, 1997...ex-dividend date in US is April 3, 1998 and ex-dividend date in Brasil is April 8, 1998. Dividend will be restated from December 31, 1998 to the payment date, 60 days after approval on April 7, 1998..." The latest exchange rate shows 1 Br. real= US $0.88; 1.878 reais would be US $1.65, a bit lower than last year's US $1.78 . Apparently Yahoo! (look at the chart under TBR "Detailed" in Yahoo! Finance) is right about the ex-dividend date but not about the probable dividend. Like others, I thought the listed $3.75 seemed too large, but whatever--Telebras is still one of top 10 stocks in the world right now.