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JSC VTB Bank (VTBR)
VTB Supervisory Council recommends to triple dividends on ordinary shares
16-Apr-2018 / 18:31 CET/CEST
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Press release
16 April 2018
VTB Supervisory Council recommends to triple dividends on ordinary shares
On 16 April, 2018, VTB Bank Supervisory Council recommended to the Annual
General Shareholders Meeting to approve 2017 dividend at RUB 0.00345 per one
ordinary share with a nominal value of RUB 0.01. The minority shareholders
will receive almost 200% more dividends compared to 2016, when dividend per
one ordinary share was RUB 0.00117. The total dividend payments on ordinary
shares will amount to RUB 44,759,117,915.11 compared to RUB
15,163,833,364.69 a year before.
VTB Supervisory Council also recommended to the Annual General Shareholders
Meeting to pass a resolution to pay out the following dividends:
- on Type 1 preference shares RUB 11,804,188,555.41, or about RUB 0.000551
per share with a nominal value of RUB 0.01;
- on Type 2 preference shares RUB 16,952,578,170.61, or about RUB 0.00551
per share with a nominal value of RUB 0.1.
The 2017 dividend per each share type was calculated based on equal dividend
yields on all types of shares: 5.51%. Dividend yield on ordinary shares was
calculated based on average daily price in 2017.
The 2017 dividend payments will account for 73% of VTB Bank's net profit
under Russian Accounting Standards, which amounts to RUB 101.3 billion, or
61% of VTB Group's consolidated net profit under International Financial
Reporting Standards, which amounts to RUB 120.1 billion. Overall for 2017,
the Bank will pay dividends in the amount of RUB 73.5 billion compared to
RUB 62.3 billion in 2016.
VTB Supervisory Council has also recommended to the Annual Shareholders
Meeting to approve 4 June 2018 as the record date for 2017 dividends.
Deputy President and Chairman of VTB Bank Management Board Herbert Moos
said: "This year, we intend to equalise dividend yields per all types of
shares, that will allow us to considerably increase payments on ordinary
shares. Thus, our minority shareholders will earn almost three times as much
as last year. I am confident that this treatment will be an equal treatment
to all shareholders, and will be seen favourably by the ordinary
shareholders and increase the attractiveness of the Bank's securities."
ISIN: US46630Q2021
Category Code: MSCM
TIDM: VTBR
LEI Code: 253400V1H6ART1UQ0N98
Sequence No.: 5415
End of Announcement EQS News Service
675039 16-Apr-2018
(END) Dow Jones Newswires
April 16, 2018 12:31 ET (16:31 GMT)
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