CEO confirms Sberbank may pay 50% of IFRS net profit in 2019 divs

MOSCOW, Aug 21 (PRIME) -- The supervisory board of Russia’s top bank Sberbank has confirmed the recommendation for the bank to pay 50% of the net profit calculated under International Financial Reporting Standards (IFRS) in dividends for 2019, CEO German Gref told reporters on Friday.

The board recommended paying 18.7 rubles per share, or a total of 422.38 billion rubles, which accounts for 50% of the IFRS net profit, in dividends for 2019 in March, but in April, the bank announced that a final recommendation will be made in May, and after that the bank delayed a meeting of the board for discussion of dividends for the second half of August.

(73.7711 rubles – U.S. $1)

End