VTB Bank OAO Might Increase FY 2012 Dividend Payouts 50%-Interfax
Interfax reported that VTB Bank OAO might earmark RUB 15 billion for dividends for the fiscal year 2012, the Bank's Deputy Chairman of the Management Board Mr. Herbert Moos said in an interview with the television channel Rossiya 24. The Bank's Management gave a recommendation to its Supervisory Board to significantly increase dividend payouts. In the fiscal year 2011 the Bank spent approximately RUB 10 billion of net profit on dividends. For the fiscal year 2012 results, the Bank plans to recommend spending approximately RUB 15 billion of net profit on dividends to the Supervisory Board. That is a significant increase - practically 50% - in dividend payouts, Mr. Moos said.
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