Page 140 - RusRPTApr23

8.3.2 Dividends dynamics
● Banks
The supervisory board of Russia's biggest lender Sberbank has recommended paying record 565bn rubles, or 25 rubles per share, in dividends for 2022, CEO German Gref told reporters on March 17.
● Retail
The board of directors of Russian alcohol producer Beluga Group has approved paying 400 rubles per common share in dividends for 2022, the company said in a statement on March 14. The company’s shareholders will consider the recommendation at an annual general meeting on April 26, the company said.
● Other
Russian agricultural holding Rusagro plans to restart dividend payments,
CFO Alexander Tarasov said at a conference call on March 5. "As soon as we advance and decide on redomiciliation, we will form our position on dividends. But it is our strategic goal in general, of course, to restart dividend payments," Tarasov said. The company did not pay dividends for 2021 and did not announce plans to pay the dividends for the last year. The net profit of the company slid by 84% in 2022 to 6.8bn rubles, as calculated under International Financial Reporting Standards (IFRS).
Aeroflot's board of directors has decided not to pay dividends for 2022,
according to a statement released by the company on March 31. The board has developed an approach to the distribution of the financial result, which does not include paying dividends for 2022. However, the company remains committed to its dividend policy and plans to consider this issue in the future. In the current external conditions, maintaining a sufficient supply of liquidity and cash in the company's accounts is a priority and a necessary condition for ensuring the stability of the business.
8.3.3 ECM news
Moscow Exchange (MOEX) could see up to 10 initial public offerings (IPOs) in 2023, RBC business portal reported citing the head of the issuers’ relations department of MOEX, Natalia Loginova.
As followed by bne IntelliNews, prior to the military invasion of Ukraine the Russian equity market was going through an IPO boom, in part fuelled by the retail investment revolution. But as the barrage of Western sanctions cut off Russian issuers from the global financial markets, the offerings have dropped dramatically.
In October 2022 the secondary public offering (SPO) of Russian cyber and
140 RUSSIA Country Report Russia April 2023 www.intellinews.com