Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Sberbank Recommends Doubling Dividend Payment for Last Year

Don't Miss Out —
Follow us on:

March 16 (Bloomberg) -- 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.

To contact the reporter on this story: Anton Doroshev in Moscow at adoroshev@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.