The minimum threshold of dividend payments is increased to 25% of profit under IFRS. Previous edition of dividend policy VTB expected payments to shareholders in the amount of 10-20% of IFRS net profit.
MOSCOW, 1 Feb. Supervisory Board VTB has developed a new version of the regulations on dividend policy by increasing the minimum threshold for payment of dividends from 10-20% to 25% of profit under IFRS as reported in a press-service of the second Russian Bank assets.
“A key change in the regulations on dividend policy – increase the minimum threshold of dividend payments and change the calculation base of dividend payments. Supervisory Board VTB has approved a new dividend policy under which the recommended amount of dividend payments will be at least 25% of the Bank’s net profit under IFRS”, — said the representative of the Bank.
Previous edition of dividend policy VTB expected payments to shareholders in the amount of 10-20% of IFRS net profit.
By the end of 2014, the Bank retained the absolute dividend level in 2013, paying 15.2 billion rubles for ordinary shares and 2,836 billion rubles – on preferred. In total, payments amounted to 91% of the net profit of VTB under RAS for 2014.
Financial Director — Deputy Chairman of VTB management Board Herbert Moos on 20 January said that the Bank’s management may recommend to maintain the dividend at the end of 2015 at the 2014 level in absolute terms.
VTB’s main shareholder is the state represented by the Federal property management Agency.