On October 22, 2020, BSPB Supervisory Board discussed dividend payout procedure, as well as recommended to the Extraordinary General Shareholders Meeting of Bank Saint Petersburg to pay out dividends in the total amount of RUB 1.6 bn.
Dividends will be paid out in the amounts as follows: (the dividend payout amount calculated based on 20% of IFRS FY 2019 net income):
• RUB 3.33 per ordinary share;
• RUB 0.11 per preferred share.
The source of payout is retained earnings.
Extraordinary General Shareholders Meeting is to take place in a form of remote voting on November, 30th, 2020. Dividend record date is December 11th, 2020.
As a reminder, during the Annual General Shareholders meeting held on May 27th, 2020, following global market tendencies and in line with regulator’s requirements aimed at Russian banks’ capital strengthening in the middle of COVID-19 pandemic, the Bank’s shareholders took a decision not to pay out dividends on ordinary shares for 2019. Having said that, the Bank's management communicated intention to bring back discussion of the ordinary share dividend payout in the autumn of 2020.
Comments by Alexander Savelyev, Chairman of the Management Board:
“Inkeeping with our promises, as well as in accordance with Bank’s solid financial state, particularly in terms of high levels of capital adequacy, we took a decision to pay out dividends on our shares”.
Bank Saint Petersburg’s summarized performance for 9M 2020 under RAS:
- Net Income for 9M 2020 amounted to RUB 6.5 bn (+82.3% compared with 9M 2019);
- Net Interest Income for 9M 2020 amounted to RUB 17.9 bn (+14.2% compared with 9M 2019);
- Net Fee and Commission Income for 9M 2020 amounted to RUB 5.2 bn (+11.5% compared with 9M 2019);
- Loans to corporates in 9M 2020 increased by 18.8% and amounted to RUB 354.2 bn;
- Tier 1 capital adequacy ratio (N1.2) as of October 1, 2020 amounted to 9.8%, the total capital adequacy ratio (N1.0) amounted to 13.1%.