Russia’s largest state-controlled lender Sberbank (Sber) will pay record-high RUB752bn ($8.5bn) in dividends for 2023, or RUB33.3 per ordinary and one preferred share (10.6% yield for both), Kommersant daily and RBC business portal report citing the shareholder meeting decision.
To remind, Sber, under full blocking sanctions, did not pay the RUB623bn dividend for 2021 amid the fallout from Russia’s full-scale military invasion of Ukraine.
But the bank surprised with the record-breaking total dividend payout of RUB565bn ($7.3bn) in 2022, making more than double the RUB271bn net profit the bank earned last year.
"For the second year in a row, the bank will pay a record dividend in its history. Sber's achievements are an important indicator of the transformation of the Russian economy," the press service of Sber quoted Finance Minister Anton Siluanov.
The largest recipient of the dividend in 2022, worth RUB282.5bn, will be the state (50% plus one share in Sberbank).
Related Articles
Austria’s RBI ups profit in Russia in 1Q25
Austria's Raiffeisen Bank International (RBI) increased its pre-tax profit in Russia in 1Q25 by over 25% year on year to €575mn ($651mn) due to the stronger ruble, Reuters reports. In ... more
Russian VTB Bank surprises with $3bn dividend for 2024
The board of Russia’s second-largest bank state controlled VTB recommended paying out RUB275.8bn ($2.97bn) in total dividends for 2024, according to Interfax corporate disclosure portal. As ... more
Russia’s Sberbank posts record profit of $5bn in 1Q25
Russia’s largest bank Sberbank (Sber) increased its profit by 10% year on year to record-high RUB436bn ($4.7bn) in 1Q25, making a return on equity of 22%, according to the bank’s announcement. ... ... more
Most Read
-
Armenia courts African countries to supply diamond industry
19 days ago
-
Russia’s Alrosa finds its largest diamond ever, as Mirny mining operations restart
2 days ago
-
COMMENT: Embracing “Greater Central Asia” has become a strategic imperative for US
13 days ago
-
From blood diamonds to critical minerals: Sierra Leone’s mining transformation
19 days ago