Dividends and Dividend Policy
The dividend policy of Vozrozhdenie Bank is set out in the Regulations on Dividend Policy, and is aimed at maintaining a balance between dividend distribution and bank capitalisation improvement through reinvestment in development.
In line with the bank’s dividend policy, dividends paid on ordinary and preference shares may not exceed 10% of the net profit for full financial year under RAS. Under the Articles of Association, the size of dividend on preference non-documentary registered shares is limited to 20% of the face value of shares. All dividends are paid in cash.
According to a resolution adopted by the General Shareholders Meeting of Vozrozhdenie Bank on June 27, 2014, the 2013 dividend on ordinary shares was 5% of the face value (0.5 RUB per share) and the dividend on preference shares was 20% of the face value (2.0 RUB per share). The total amount of dividend payable was 14.5 RUB million.
DIVIDEND PAYOUT HISTORY
|Dividend on ordinary shares, RUB per share||0.5||0.5||0.5|
|Total amount of dividend payable on ordinary shares, RUB million||11.87||11.87||11.87|
|Dividend on preference shares, RUB per share||2.0||2.0||2.0|
|Total amount of dividend payable on preference shares, RUB million||2.59||2.59||2.59|
|Total amount of dividend payable, RUB thousand||14,463||14,463||14,463|
|Dividend payable to net profit ratio (IFRS)||1.2%||0.97%||0.62%|
|Total amount of dividends paid, RUB thousand *||14,002||13,947||13,734|
|*The amount of dividends paid did not match the amount of dividend payable because some of the shareholders did not provide their payment details.|