Sberbank to pay national record RUB 422.4 bn in dividends for second year in a row
The Sberbank PJSC Supervisory Board has recommended that the annual General Meeting of Shareholders pay RUB 422.4 bn in dividends for 2020, coming to RUB 18.7 per share (55.9% of IFRS adjusted net profit). Sberbank paid shareholders the same amount for 2019, setting a national record for dividends payments in Russia. Should the Annual General Meeting of shareholders adopt the decision on the payment of dividends, exactly half of the sum – RUB 211.2 bn – would go to the national budget.
“We are going to pay out 56% of our net profit – this is a record dividend rate, and the amount is the same as last year. The AGM is scheduled for April 23, so payouts to shareholders and, accordingly, to the budget, will begin as early as May,” stated CEO Herman Gref, Chairman of the Executive Board of Sberbank.In accordance with its Dividend Policy, until 2023 Sberbank PJSC will continue to earmark at least 50% of its net profit for dividend payments.