Executive: Sberbank plans to pay dividends in future

MOSCOW, Oct 4 (PRIME) -- Russia's biggest lender Sberbank will continue paying dividends and will produce no bad surprises, Vice President Taras Skvortsov said on Wednesday.

"The higher is return on equity, the bigger dividends we will be able to pay. We plan to pay dividends because we understand to what extent our shareholders wait for them. We have no plans surprising them in this respect," Skvortsov said.

The executive said that Sberbank would present its dividend policy with details in December.

Under the current policy, Sberbank pays at least 50% of the net profit under International Financial Reporting Standards in dividends if capital adequacy is no lower than 12.5%.

Skvortsov also said that the bank saw its current market capitalization as insufficient and estimated the fair target share price at 325 rubles at the end of 2023 with an intent to raise the price in 2024.

(99.2677 rubles – U.S. $1)

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