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Shareholders of Philip Morris CR AS (TABAK), the Czech unit of the world’s largest publicly traded tobacco company, approved a dividend of 920 koruna a share ($49), the company said.
The company’s market share was hurt by lower demand for local brands in 2011, the Kutna Hora-based cigarette maker said in an e-mailed statement today.
Sales of cheaper brands remained “encouraging,” the company said.
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