CREDIT BANK OF MOSCOW to pay first dividends
The Supervisory Board of Credit Bank of Moscow (CBM), at its in-person meeting on 16 April, recommended to distribute 24.6% of the Bank's RAS net income for 2018 as dividends to the shareholders. The total amount of dividend recommended to be paid will reach RUB 2,978,768,085.26 or RUB 0.11 per one ordinary registered share of the Bank. The decision to pay dividends will be taken by the Bank's annual General Shareholders' Meeting to be held on 27 May 2019.
«The debut dividend payment is an important step in CBM's development. The Supervisory Board's recommendation reflects our strong financial results of 2018: IFRS net income rose by 31.5% compared to 2017 and reached RUB 27.2 bln. The dividend payment will play an important role in increasing the investment appeal of the Bank, whose shares have been traded publicly for almost 4 years,» noted Vladimir Chubar, CBM's Chairman of the Management Board.
The record date for participation in the annual General Shareholders' Meeting is 2 May 2019. The recommended record date for entitlement to dividends is 7 June 2019.