Sberbank board recommends paying 56% of IFRS profit in 2020 divs

MOSCOW, Mar 19 (PRIME) -- The supervisory board of Russia’s biggest lender Sberbank has recommended paying 18.7 rubles per share, or 56% of net profit under International Financial Reporting Standards (IFRS), in dividends for 2020, CEO German Gref said on Friday.

“Today the supervisory board supported a proposal of the company’s management to pay dividends at the level of last year. This is 56% in percentage terms – this is a record dividend in percentage and the same amount as last year,” he said.

The total dividend payments will amount to 422.4 billion rubles.

The bank’s shareholders will consider the recommendation at an annual general meeting on April 23, while the dividend payment will be made in May.

The government holds 52.32% in Sberbank.

(73.6582 rubles – U.S. $1)

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