CEO: Sberbank to decide on 2021 dividends in March 2022

MOSCOW, Nov 8 (PRIME) -- Russia’s top bank Sberbank will decide on dividends for 2021 in March 2022 adhering to the dividend policy, CEO German Gref told PRIME on Monday.

“In accordance with our current dividend policy, we plan to pay at least 50% of the net profit (calculated under International Financial Reporting Standards) in dividends if we hold the capital adequacy ratio at a comfortable level of above 12.5%. We will make a decision on dividends for 2021 in March 2022,” he said.

In absolute figures, the dividends for 2021 will be higher than the dividends for 2020 as the net profit of Sberbank should rise to over 1 trillion rubles, he said.

Previously, Sberbank paid 18.7 rubles per share, or a total of 422.4 billion rubles, in dividends for 2019 and for 2020. In 2019, the payment accounted for 50% of the IFRS net profit, while in 2020 it accounted for 56% of the profit. Under the federal budget draft, Sberbank should pay 26.36 rubles per share, or a total of 572.95 billion rubles in dividends for 2021.

The government owns 52.32% of Sberbank’s ordinary share, of 50% plus one share of the shareholder equity.

(71.4876 rubles – U.S. $1)

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