OAO Sberbank, Russia’s biggest lender, plans to more than double its dividends for 2011, in a payout equal to 15.3 percent of net income, Chief Executive Officer German Gref said.
Sberbank may pay 2.08 rubles a common share and 2.59 rubles a preferred share, Gref told reporters today in Moscow.
Net income under Russian accounting standards jumped about 79 percent last year to 310.6 billion rubles ($10.6 billion), according to Gref. That means the payout may be equivalent to $1.6 billion. Net income to international standards should be higher than under Russian accounting, Gref said.