VTB Bank's Supervisory Council to convene the 2020 Annual General Meeting of Shareholders and to issue dividend recommendation

 

 

VTB Bank's Supervisory Council has announced that the Annual General Meeting of Shareholders will be held on 24 September 2020. The list of individuals who have access to the Annual General Meeting of Shareholders will be compiled based on the Register of the Bank's shareholders as of 31 August 2020. The meeting announcement, agenda and other relevant information will be published on VTB's website in due course. The meeting will be conducted via absentee voting.

 

VTB Bank's Supervisory Council recommends the Annual General Meeting of Shareholders to approve the distribution of 10% of the Bank's 2019 net profit under IFRS as total dividends for 2019. VTB Bank's Supervisory Council also recommends the Annual General Meeting of Shareholders to distribute the part of the Bank's retained profit of previous years to pay dividends on Type 1 preference shares.

 

Thus the Supervisory Council recommended to the Annual General Meeting of Shareholders to pass a resolution to distribute the net profit according to the Russian Accounting Standards for the year of 2019 in the amount of RUB 197.1 billion as follows:

 

 

 

The amount of dividend payments per 1 share for the year of 2019 is as follows:

 

• RUB 0.00077345337561138 per one ordinary share with a nominal value of RUB 0.01;
• RUB 0.000193614774199896 per one preference Type 1 share with a nominal value of RUB 0.01;
• RUB 0.00193614774199896 per one preference Type 2 share with a nominal value of RUB 0.1.

 

The above stated dividends for each share type for 2019 were calculated based on concept of equal dividend yield for all three categories of shares, the dividend yield for 2019 was fixed at 1.9%. Dividend yield on ordinary shares was calculated based on average daily price on the Moscow Exchange in 2019, while for preference shares it was calculated based on the nominal value for both types of preference shares.

 

VTB's undistributed net profit for 2019 in the amount of RUB 166.7 billion will be utilised to support business growth and capital adequacy levels in line with the requirements of the Bank of Russia.

 

The Supervisory Council also recommended to the Annual General Meeting of Shareholders to pass a resolution to distribute the Bank's retained profit of previous years as follows:

 

 

The amount of dividend payment per one preference Type 1 share with a nominal value of RUB 0.01 out of retained profit of previous years is RUB 0.000204477847951373.

 

The Supervisory Council also recommended to the Annual General Meeting of Shareholders to set 5 October 2020 as the record date for determining the list of persons eligible for dividend payment.