At the meeting held on 27 April 2015 the Supervisory Board of Bank Saint Petersburg made a resolution to recommend the Annual General Shareholders' Meeting to pay dividends in the amount of RUB 890 mln, or 20% of 2014 net income under Russian Accounting Standards.
The dividends per one ordinary share will be 2 RUB 02 kopeks, or 202% of the nominal value of a share (the dividends for 2008-2013 were 11 kopeks, or 11% of the nominal value). Dividends are recommended to be paid in cash.
The persons entitled to dividends will be determined as at July 3, 2015.
Alexander Savelyev, Chairman of the Supervisory Board of the Bank, commented: "It is for the first time when we declare such high dividends on ordinary shares. This decision reflects our focus on the growth of long-term shareholder value of the Bank and its attractiveness as an object of investment. At the same time it is sign of gratitude to our investors which opens a new page in our relations with the market".
At the meeting held on 27 April 2015 the 2014 annual report of Bank Saint Petersburg was preliminarily approved and the resolution was made to recommend the Annual General Shareholders' Meeting to allocate RUB 3.5 bn as retained profit for further development of the Bank's business.
The Supervisory Board also considered the Financial Plan of Bank Saint Petersburg for 2Q-4Q 2015.
The Supervisory Board made a resolution to elect Mr. Vladimir K. Likhodievsky member of the Management Board. He will supervise the settlements and operations of the Bank.
The Supervisory Board approved the personnel policy of Bank Saint Petersburg and took into account the reports of the Audit Committee, the Corporate Governance Committee, the Appointments and Remuneration Committee and the Risk Management Committee of the Supervisory Board.