VTB Bank today announces the results of its Annual General Meeting of shareholders (AGM), held in St. Petersburg on 25 June 2015. Shareholders approved VTB Bank’s Annual Report for 2014 and the Annual Financial Statements, including the Profit and Loss Statement (VTB Bank Profit and Loss Account) for 2014, and also approved the following profit allocations for 2014:
Net profit to be allocated, total RUB 19,673,800 thousand;
Allocations to the Reserve Fund RUB 983,690 thousand;
Dividend allocation on ordinary shares RUB 15,163,833 thousand;
Dividend allocation on preferred shares RUB 2,835,857 thousand;
Undistributed net profit RUB 690,420 thousand.
Shareholders approved the dividend for 2014 of RUB 0.00117 per ordinary registered share with a nominal value of RUB 0.01, and a dividend of RUB 0.000132493150684932 per one preference share with a nominal value of RUB 0.01
Dividends for 2014 are to be paid in monetary form, with the amount per share calculated to one kopeck and subject to rounding.
Dividends will be paid within the following timeframes and will be based on the record date:
within 10 (ten) business days: to nominal holders and beneficial owners on the basis of the shareholder register who are professional securities market participants;
within 25 (twenty-five) business days: to other registered shareholders.
The record date is 6 July 2015. Dividends will be transferred to shareholders’ bank accounts or sent by mail.
The AGM also elected 11 members to VTB Bank’s Supervisory Council:
Sergey Galitsky (independent member)
Yves-Thibault de Silguy (independent member)
Shahmar Movsumov (independent member)
Valery Petrov (independent member)
Shareholders approved the VTB Bank Statutory Audit Committee comprising six members.
Ernst & Young was approved as VTB Bank Auditor, to exercise a mandatory annual audit of VTB Bank for 2015.
The AGM also approved the limit for related-party transactions.
Shareholders approved the new version of VTB Bank Charter and authorised Andrey Kostin, VTB Bank President and Chairman of the Management Board, to sign the new edition of the Charter and apply to the Bank of Russia for its approval.
Shareholders also approved the termination of the bank’s membership in the National Payments Council non-profit organisation, as well as the new wording of the Regulation on VTB Bank Supervisory Council, Regulation on VTB Bank Management Board, Regulation on the Statutory Audit Commission, and Regulation on Preparing, Convening and Holding VTB Bank General Shareholders Meetings.
Shareholders also voted to approve an increase in the charter capital of VTB Bank through an issue of 3,073,905,000,000 preference shares with a nominal value of RUB 0.1. The preference shares are planned to be placed with the Deposit Insurance Agency via closed subscription.
A report on the results of the bank’s AGM will be published within the legally established timeframe at www.vtb.ru.