Sberbank information (materials)
Download 1.41 Mb.
|
- Navigate this page:
- Report on payment of declared and accrued dividends
Share capitalAs of 1 January 2012, the Bank's charter capital was 67.76 billion rubles. This consists of 21,586,948,000 common and 1,000,000,000 preferred shares with a par value of 3 rubles each. The majority of voting shares (60.25 %) are owned by the Bank of Russia. Sberbank is an open market company. The bank's shares are publicly traded on the Russian stock exchange (included in the MICEX-RTS stock exchange first level quotation list A). In 2011, Sberbank shares remained the most liquid instruments of the Russian stock exchange, the average annual turnover of the Bank's common shares on MICEX accounted for 34% of the stock market's turnover. In June 2011, Sberbank of Russia launched a program of American depositary receipts for its equity stock. For greater convenience for its foreign investors, the Bank organized access to American depositary receipts on the London and Frankfurt stock exchanges. In 2011, share prices of Russian issuers were negatively affected by global stock market trends and the debt problems of European Union countries led to an even greater decrease in share prices of European and Russian banks. The MICEX index fell by 17%, RTS by 22%, and Sberbank common stock by 24 % over the year. Despite the decrease in share price, Sberbank was still the 19th largest international bank by size of market capitalization according to data from FT Global 500. Sberbank share price and capitalization:
Source: Bloomberg‚ market capitalization – FT Global 500 In February 2012, the authoritative international magazine The Economist placed Sberbank in 2nd place among the best stocks for the past decade: 100 US dollars invested 10 years ago in Sberbank shares would be worth 3722 dollars on the magazine's publication date. Only Apple Inc. outperformed Sberbank (3919 dollars). In addition to Sberbank, only one Brazilian bank entered the top 10, in 8th place. Report on payment of declared and accrued dividendsThe rights of shareholders to receive dividends and payment procedures are fixed in the Bank's Charter and dividend Policy. Both documents are published on the Bank's corporate internet website at www.sbrg.ru, www.sberbank.ru. Owners and shareholders of common and preferred stock have the right to receive dividends. Shareholders and owners of preferred shares have the right to receive dividends at a value no less than 15% of the nominal price of the preferred shares. In accordance with Sberbank's Charter, dividends are paid to shareholders once a year in cash by transfer to the shareholders' accounts. The decision to pay dividends and the amount is taken by the annual General Shareholders’ Meeting based on the recommendations of the Bank's Supervisory Board. These recommendations take into account the interests of the shareholders and the Bank in terms of further business development. In the reporting year, the volume of money designated for Sberbank of Russia share dividends was increased to 12.1% of the Bank's net earnings for 2010, calculated in accordance with Russian accounting standards (RAS).
* Dividend amount for one share for 2006 calculated in accordance with the current Bank share par value of 3 rubles. ** Reason for non-payment of declared dividends was incorrect shareholder payment details. In August 2011, the Supervisory Board of Sberbank approved a new dividend policy. As part of the plans for optimizing capital structure and for forming long-term relationships with shareholders, the Bank is ready, over three years, to increase consistently dividend payments to 20% of net earnings accrued to Bank shareholders and determined on the basis of annual consolidation of the Bank's reporting in accordance with International Financial Reporting Standards (IFRS). In addition, dividends, as before, shall be paid from the Bank's net earnings, calculated in accordance with Russian laws, ie RAS. Size of Sberbank of Russia share dividends for 2011, recommended by the Supervisory Board to the annual General Shareholders’ Meeting for approval:
The decision on the payment and size of dividends for 2011 will be approved by the annual General Shareholders’ Meeting on 1 July 2012. Information on this will be published on Sberbank's website (www.sbrf.ru; www.sberbank.ru). Directory: common common -> Anbookstore com Copyright 2013 common -> Chapter 1: Property as rights, not thing common -> The Promise of Accessible Textbooks: Increased Achievement for All Students common -> Proceedings of the national assembly common -> Grade 8: Module 3B: Unit 2: Lesson 17 End of Unit 2 Assessment, Part 1 common -> Advanced 3G/4g vehicle Wi-Fi Router hw-wr1642 common -> Common Core and headsets: what you need to know Download 1.41 Mb. Share with your friends:
|