Bank Saint Petersburg Allocates 20% of its Net Income for Dividends
At the meeting held on April 14, 2016 the Supervisory Board of Bank Saint Petersburg made the resolution to recommend the Annual General Shareholders' Meeting to pay dividends in the amount of RUB 462 mln, or 20% of 2015 net income under Russian Accounting Standards.
The dividends per one ordinary share will be 1 RUB 05 kopecks, or 105% of the share's nominal value. Dividends are recommended to be paid in cash.
The dividend record date is June 7, 2016.
Alexander Savelyev, Chairman of the Supervisory Board of the Bank, commented: «The Bank confirms its intention to pay dividends on ordinary shares in the amount of 20% of net income, which reflects the Bank’s strong capital position and the progress we have made in the development of our core business areas».
The Meeting held on April 14, 2016 pre-approved the 2015 Annual Report draft of Bank Saint Petersburg and made the resolution to recommend the Annual General Shareholders' Meeting to allocate RUB 1.8 bn as retained earnings for further development of the Bank's business.
It also pre-approved the revised versions of the Charter and the Regulations on the Supervisory Board.
In addition, the Supervisory Board heard the reports of the Strategy Committee, Audit Committee, Appointments and Remuneration Committee, and Risk Management Committee of the Supervisory Board, as well as business line reports.