Sberbank eyes almost 56% dividend payout from 2020 profit – TASS

Sberbank of Russia's management board wants to propose earmarking 55.7% of the lender's 2020 IFRS net profit for dividend payouts, news agency TASS reported March 4, citing Sberbank CEO Herman Gref.

The per-share dividend would be the same as that paid from the 2019 net profit and would amount to 18.7 rubles.

Sberbank's supervisory board will discuss 2020 dividend payouts during a meeting scheduled for the end of March, TASS noted, citing Sberbank's CFO Alexandra Buriko.

Sberbank of Russia's 2020 net profit, calculated under the international financial reporting standards, amounted to 760.3 billion rubles, down from 845.0 billion rubles in 2019.

At the end of 2020, the bank approved its 2023 strategy under which it pledged to earmark at least 50% of its IFRS net profits for dividend payouts.

As of March 4, US$1 was equivalent to 73.40 Russian rubles.