Moscow Exchange completes dividend payments for FY 2019

Maria Nikolova

The total sum paid was RUB 18.1 billion.

Moskovskaya Birzha MMVB-RTS PAO (MCX:MOEX) today announces it has completed dividend payments for FY 2019. The total sum paid was RUB 18.1 billion, representing 89% of 2019 consolidated net profit under International Financial Reporting Standards (IFRS).

The dividend was RUB 7.93 per ordinary share. Most shareholders received dividends via the nominee holder (National Settlement Depository) on or before May 29, 2020 with all other shareholders receiving payments by June 22, 2020.

The dividend was approved at the company’s Annual General Meeting of Shareholders on April 28, 2020, in line with the recommendation of Moscow Exchange’s Supervisory Board. The record date was May 15, 2020.

There are nearly 120,000 individual and approximately 1,000 institutional shareholders of Moscow Exchange. The company’s free float stands at 63%, one of the highest free floats among Russian publicly traded companies.

According to the new dividend policy adopted by the Supervisory Board in Autumn 2019, the dividend payout floor is 60% of net profit for the year. The company seeks to pay the entire free cash flow out in the form of dividends.

Let’s recall that, in 2019, MOEX saw F&C income increase by 10.7% year on year to a record of RUB 26.2 billion, on the back of the growth of the Derivatives, Bond and Equities Markets. Net interest income was up 4.1% from the preceding year to RUB 16.7 billion, fuelled by realized revaluation gains on the investment portfolio.

Net profit grew by 2.4% in annual terms and reached RUB 20.2 billion.

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