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).
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Russia's Ozon swings to profit on EBITDA growth, fintech expansion in Q1 2026
Russia's Ozon Group (MOEX: OZON) reported a net profit of RUB4.5bn ($54.7mn) for the first quarter of 2026, against a net loss of RUB7.9bn in the same period last year, the e-commerce group said in ... more
Russia boosts Mali military support as Africa Corps replaces Wagner
Russia has delivered new shipments of heavy military equipment to Mali as the Kremlin replaces the Wagner Group’s semi-private model with the more tightly controlled Africa Corps, according to The ... more
BRICS+ city network voices solidarity with Tehran as tensions with US persist
Senior figures from the BRICS+ Association of Cities and Municipalities expressed “solidarity” with Tehran and voiced concern over developments in the Middle East in a message to the Iranian ... more