BSPB’s Supervisory Board ratified recommendations to AGSM
On April 8, 2021, BSPB Supervisory Board held an ordinary meeting.
Comments by Alexander Savelyev, Chairman of the Management Board:
“We’ve summed the results of a challenging, however quite successful year for our Bank. Having earned record-high net income, the Bank intends to allocate towards dividend payout RUB 2.2 bn, implying 7.5% dividend yield. In accordance with the Dividend policy, this recommendation to the AGSM was approved by the Supervisory board. Other than that, following our promise to the market, we resolved to perform a share buyback for the total amount of RUB 1.5 bn. The terms of the procedure will allow the shareholders to both receive 2020 dividends, and apply for the buyback as well. The other thing important to note is, despite capital decrease the current profit generation rate allows us to grow our business volume according to our Strategy”.
Dividends will be paid out in the amounts as follows: (the dividend payout amount calculated based on 20% of IFRS FY 2020 net income):
• RUB 4.56 per ordinary share;
• RUB 0.22 per preferred share.
The dividend record date is June 7th, 2021. Total payout sum is RUB 2.2 bn.
The Supervisory board also resolved to acquire 26,000,000 ordinary shares of the Bank in book-entry form for a total amount of RUB 1.5 bn in accordance with the article 72 of №208-FZ law “On joint-stock companies”. The approved price of acquisition is RUB 58 per share. Shareholders' offers for the sale of their shares to the Bank may be submitted from May 17, 2021 to June 21, 2021.
During the session the format of the Annual General Shareholders Meeting was approved. It is to take place in a form of remote voting on May, 27th, 2021. Deadline for the voting ballots submission is May 27th, 2021. Other than that, during the session the Bank’s Annual report for 2020, auditor’s report for the RAS year-end financials, plans for 2021 on the main strategic directions, among other questions, were reviewed.
The following 9 candidates to the Supervisory board of Bank Saint Petersburg for the corporate year 2021-2022 were determined: Andrey P. Bychkov, Alexey A. Germanovich, Vladislav S. Guz, Andrey M. Zvyozdochkin, Elena V. Ivannikova, Yury G. Levin, Sergey P. Nazarov, Alexander V. Savelyev, Thomas M. Veraszto.
The Supervisory board decided to recommend to AGSM to decrease share capital in a form of 11 999 935 ordinary shares redemption, previously purchased in 2019.