MOSCOW, Sept 19 (Reuters) - The Russian budget foresees a 55 percent increase to 210 billion roubles ($3.14 billion) in the dividends it will earn from the country’s top bank Sberbank based on the lender’s 2018 results, a document obtained by Reuters showed on Wednesday.
The finance ministry document shows amendments to the budget for the period of 2019-2021, and shows 210 billion roubles flowing into state coffers in 2019 from Sberbank dividends, up from 135.5 billion roubles this year.
The Russian central bank owns 50 percent plus one share in Sberbank and the finance ministry’s estimates are related to dividends the central bank will receive, not the entire dividends payout by Sberbank which includes minority shareholders.
This year’s dividends are paid on 2017 results. Dividends expected by the budget in 2019, 2020 and 2021 will be based on the 2018, 2019 and 2020 results, respectively.
In 2020, Sberbank is expected to pay 220.8 billion in dividends to the state budget and another 231 billion roubles are forecast in 2021. A finance ministry official confirmed the document was genuine.
Sberbank spent 36.2 percent of last year’s net profit on dividends payments - both to the state and its minority shareholders. It plans to gradually increase the payout to 50 percent of net profit by 2020. ($1 = 66.8075 roubles) (Reporting by Darya Korsunskaya Writing by Katya Golubkova Editing by Alexandra Hudson)