VTB become generous

The second largest Russian bank VTB will direct the payment of dividends over the past year 25.54% of net profit under Russian Accounting Standards (RAS), or 0.058 penny per share. Last year the figure was 0.0447 cent a year. Recall that 85.5% of the shares of the bank owned by the state. That's how much dividend VTB Supervisory Council recommended that accrue to shareholders, according to a press release from the bank. In another communication, financial services company said that net profit according to IFRS for the year 2009 amounted to 23.75 billion rubles. Dividends for 2008 were at 11.18% of net profit (3 billion rubles), and in 2007 - about 50% (about 9 billion rubles). In May 2007 the bank conducted the infamous "popular" IPO. Yielding to propaganda, advertising, credit institution, the bank's shares have bought more than 120 thousand Russians. In the IPO shares were placed at a price of 13.6 cent per security. At the closing of the MICEX on Wednesday, 1 share of VTB worth 8.55 cent. As noted by the bank as a whole, for the payment of dividends for the past year will be allocated 6.067 billion. If approved by Shareholders dividends will be paid in cash, by bank transfer to shareholders' bank accounts and cash in the branch of VTB in St. Petersburg at the address. Bolshaya Morskaya 30. Payment of dividends will be held within 60 days from the date of the decision the annual meeting of shareholders to be held on June 4.