OREANDA-NEWS. June 9, 2012. The Annual Meeting of Shareholders of Sberbank of Russia approved recommendations by the Supervisory Board to pay dividends for 2011 as 2.08 rubles per share for ordinary shares, 2.59 rubles per share for preferred shares. On results for 2010 dividends amounted to 0.92 rubles and 1.15 rubles respectively.

Dividend yield on ordinary shares will be 2.17%, on preferred shares – 3.30%. Total payout of dividends for 2011 will amount over 47 billion rubles.

Sberbank has significantly increased its share of net profit allocated to pay dividends: it makes 15.3% of the Banks’ net profit for the year according to RAS (compared to 12.1% for 2010 and 10% in 2006–2009).

Sberbank of Russia is the largest bank in Russia, accounting for about 27% of the aggregate Russian banking assets and employing about 240,000 people. Sberbank’s founder and major shareholder is the Bank of Russia holding over 60% of voting shares. The bank’s other shareholders comprise more than 245,000 legal entities and individuals. The bank has the largest countrywide branch network with 17 regional head offices and more than 19,000 outlets as well as subsidiary banks in Kazakhstan, Ukraine and Belarus, a branch in India, and representative offices in Germany and China.