OREANDA-NEWS. Moscow Exchange's Supervisory Board on 23 September approved a new dividend policy, raising the payout floor to 55% of the Group's net profit under IFRS.

"Moscow Exchange's updated dividend policy underscores the record payout ratio that the Company achieved in 2014, when we returned 55% of net profit to shareholders, against a target of 50%. This now forms the floor for future dividends. Other fundamentals of the policy remain unchanged: the percentage of net profit available for dividends will be determined by the capital needs of the Exchange's subsidiaries, primarily the NCC Clearing Bank, which acts as the Central Counterparty, as well as funding requirements for capital investments into IT infrastructure and potential acquisitions. This means we will continue to balance dividend payouts with business development needs and our goal of minimising financial and operational risks for market participants," said Alexander Afanasiev, Chief Executive Officer of Moscow Exchange. 

The Board also reviewed an update on strategy implementation, and a report on the Group's operating and financial results for the first eight months of 2015. Directors also approved management's proposal to exit the Group's subsidiaries in Ukraine and to potentially participate in the capital of a new Russian credit rating agency.