Notices. Notice of decision
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/register/2004/06/28/04-14590A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 4909-60-M DEPARTMENT OF TRANSPORTATION Surface Transportation Board [STB Ex Parte No. 558 (Sub-No. 7)] Railroad Cost-of-Capital—2003 AGENCY: Surface Transportation Board, DoT. ACTION: Notice of decision. SUMMARY: On June 22, 2004, the Board served a decision to update its computation of the railroad industry's cost-of-capital for 2003. The composite after-tax cost-of-capital rate for 2003 is found to be 9.4%, based on a current cost-of-debt of 5.0%; a cost of common equity capital of 12.7%; and a capital structure mix comprised of 42.8% debt and 57.2% common equity.
The cost-of-capital finding made in this proceeding will be used in a variety of Board proceedings. DATES: *Effective Date:* This action is effective June 28, 2004. FOR FURTHER INFORMATION CONTACT: Leonard J. Blistein,
(202)565-1529. (Federal Information Relay Service
(FIRS)for the hearing impaired: 1
(800)877-8339). SUPPLEMENTARY INFORMATION: The cost-of-capital finding in this decision may be used for a variety of regulatory purposes. The Board's decision is posted on the Board's Web site, *www.stb.dot.gov.* In addition, copies of the decision may be purchased from ASAP Document Solutions by calling 301-577-2600 or by e-mailing *asapdoc@verizon.net.* Environmental and Energy Considerations This action will not significantly affect either the quality of the human environment or the conservation of energy resources. Regulatory Flexibility Analysis Pursuant to 5 U.S.C. 605(b), we conclude that our action in this proceeding will not have a significant economic impact on a substantial number of small entities. The purpose and effect of this action are to update the annual railroad industry cost-of-capital finding by the Board. No new reporting or other regulatory requirements are imposed, directly or indirectly, on small entities. Authority: 49 U.S.C. 10704(a). Decided: June 22, 2004. By the Board, Chairman Nober, Vice Chairman Mulvey, and Commissioner Buttrey. Vernon A. Williams, Secretary. [FR Doc. 04-14590 Filed 6-25-04; 8:45 am]
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