Moscow’s GAZPROMBANK board of directors has recommended paying dividends of R150 per share for 2005. The shareholders meeting is scheduled for June 20. The shareholders register was closed as of May 23. GAZPROMBANK paid R1.6 billion in 2004 dividends, particularly, R120 per share. This year, dividend payments will increase by 25%. In 2005, GAZPROMBANK’s net profit based on Russian accounting standards grew by 37.77% to R13.1b. Shareholders will discuss plans to increase the bank’s charter capital. Earlier, the bank announced plans to issue an additional 6.67m shares and sell them to DRESDNER BANK at not less than R23.2 billion. If this happens, DRESDNER BANK will have its GAZPROMBANK share increased to 33%.
Source: BANKIR.RU, May 25, 2006
