Russia’s Sberbank to pay record $8.5bn dividend for 2023

By bne IntelliNews June 23, 2024

Russia’s largest state-controlled lender Sberbank (Sber) will pay record-high RUB752bn ($8.5bn) in dividends for 2023, or RUB33.3 per ordinary and one preferred share (10.6% yield for both), Kommersant daily and RBC business portal report citing the shareholder meeting decision.

To remind, Sber, under full blocking sanctions, did not pay the RUB623bn dividend for 2021 amid the fallout from Russia’s full-scale military invasion of Ukraine.

But the bank surprised with the record-breaking total dividend payout of RUB565bn ($7.3bn) in 2022, making more than double the RUB271bn net profit the bank earned last year. 

"For the second year in a row, the bank will pay a record dividend in its history. Sber's achievements are an important indicator of the transformation of the Russian economy," the press service of Sber quoted Finance Minister Anton Siluanov.

The largest recipient of the dividend in 2022, worth RUB282.5bn, will be the state (50% plus one share in Sberbank).

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