Sberbank to pay record dividends of 422.4 bln rbl for 2019

MOSCOW, Sep 25 (PRIME) -- The shareholders of Russia’s top bank Sberbank have approved paying 18.7 rubles per share, or a record amount of 422.4 billion rubles, in dividends for 2019, the bank said in a statement on Friday.

The record date for the dividends is October 5.

The payment accounts for 50% of the bank’s net profit for the year as calculated under International Financial Reporting Standards (IFRS).

For 2018, the bank paid 361.4 billion rubles of dividends, or 43.5% of the IFRS net profit.

The Finance Ministry controls 52.32% of the bank’s ordinary shares, or a 50% plus one share stake of the bank’s shareholder equity. Foreigners own a total of 43.75% of the bank’s equity, while Russian companies own 2.25%, and private investors have 4%.

The bank’s shareholders also elected a new composition of the supervisory board on Friday. They expanded the amount of government officials in the board to three, and reduce the amount of central bank’s representatives to one.

So, the shareholders replaced central bank’s first deputy chairpersons Sergei Shvetsov and Olga Skorobogatova, Chief Auditor Valery Goreglyad, and head of the main department for the Central Federal District Nadezhda Ivanova with Deputy Prime Minister Dmitry Chernyshenko, Finance Minister Anton Siluanov, Deputy Finance Minsiter Vladimir Kolychev, and an independent director – Mikhail Kovalchuk, president of the National Research Center Kurchatov Institute.

Other nine members of the board kept their chairs.

(77.1780 rubles – U.S. $1)

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