Bank St Pete to continue paying at least 20% of IFRS profit in divs

MOSCOW, Aug 27 (PRIME) -- Bank Saint Petersburg still plans to keep paying at least 20% of the net profit calculated under International Financial Reporting Standards (IFRS) in dividends, a spokesperson for the bank told PRIME on Tuesday.

“In accordance with the dividend policy, the bank plans to pay dividends of at least 20% of the IFRS net profit,” the representative said.

In November 2018, the bank announced a switch into payments of dividends based on the net profit calculated under International Financial Reporting Standards (IFRS) instead of Russian Accounting Standards (RAS).

The bank paid 3.71 rubles per common share and 11 kopecks per preferred share, or a total of 1.8 billion rubles, in dividends for 2018.

According to the bank’s materials, managers of the bank hold a combined stake of 48.0293% in the bank.

(65.9735 rubles – U.S. $1)

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