DGAP-News: Sberbank: Sberbank approves new Dividend policy
ID: 454786
Sberbank: Sberbank approves new Dividend policy
02.08.2011 / 13:55
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Sberbank approves new Dividend policy
August 1, 2011, Moscow - Supervisory Board of Sberbank has approved the new
Dividend policy, which was preliminary examined and recommended for
approval by the Strategic Planning Supervisory Committee.
During 20 years of its operation Sberbank as a joint stock company has
guaranteed payment of dividends to its shareholders. Net profit distributed
for payment of dividends varied from 6 to 12 percent. Based on results of
the year 2010 it has paid the unprecedented amount - over 20 billion of
rubles.
Previous revision of the Dividend policy did not allow calculating of
prospected level of dividend payments by shareholders due to lack of target
share of disbursements from the Bank's net profit, it simply described the
procedure of its determination.
'The new Dividend policy suggests an increasing level of allocations for
dividend payments for three years up to 20% from net profit of the Bank
defined based on consolidated financial reports drawn according to the
International Financial Reporting Standards (IFRS),' - commented Bella
Zlatkis, Vice-Chaiman of the Board of the Savings Bank of Russia.
# # #
Sberbank of Russia
Alexander Baziyan
Public Relations
Tel. +7(495) 957 5721
media@sberbank.ru
Sberbank of Russia JSC is the largest bank in Russia, Central and Eastern
Europe, and its share includes about 30% of assets of Russian banking
system with about 240 thousand employees. Central Bank of the Russian
Federation is the founder and the major shareholder of Sberbank of Russia
JSC, owning above 60% of voting shares. Other shareholders include about
260 thousand individuals and legal entities. The Bank has the most
developed branch network in Russia: 17 territorial banks, about 20 thousand
branches and internal organization departments, as well as subsidiary banks
in Kazakhstan, Ukraine and Belarus, a branch in India, and representative
offices in Germany and China.
General license of the Bank of Russia to perform bank operations 1481.
Bank's official site - - www.sberbank.ru
End of Corporate News
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Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russia
Phone: +7-495-957-57-21
E-mail: media@sberbank.ru
Internet: www.sberbank.ru
Listed: Foreign Exchange(s) MICEX, RTS
End of News EquityStory.RS, LLC News-Service
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Datum: 02.08.2011 - 13:55 Uhr
Sprache: Deutsch
News-ID 454786
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