Dividend policy — Annual report 2010

Annual Report 2010
To the bank’s web-site по-русски

- Portrait of the Bank
- Letter from the Chairman of the Management Board
- Strategy
- Main Events of 2010
- The Russian Economy and Banking Sector
- Business Overview
- Shareholder Structure
- Corporate Governance
  - Achievements in 2010
  - Management bodies
  - Committees of the Board of Directors
  - Members of the Board of Directors
  - Management Board
  - Internal Control and Audit
  - Dividend policy
  - Information disclosure
- Risk Management
- Social Responsibility
- Financial Statements
- Branches in Russia
- Offices of Bank Vozrozhdenie
- Address and Contacts

# Dividend policy

The Bank’s dividend policy is based on a balance between the need to reinvest in further development and observance of the right of shareholders to receive net profits. This balance is a key factor for long-term increase in the Bank’s shareholder value. The Bank’s dividend policy envisages annual dividend payments of up to 10% of net profit earned in the previous financial year. Dividends on preferred shares must be 20% of their face value, according to the Bank’s Articles of Association. All dividends are paid in monetary form, net of taxes, within 60 days of the approval of their payment by the General Meeting of Shareholders.

The text of the Provision on Dividend Policy is available on the Bank’s website: http://www.vbank.ru/en/investors/cmanagement/internal/.

In accordance with the decision of the General Meeting of Shareholders dated 25 June 2010, shareholders as of the record date on 6 May 2010, at 7 pm Moscow time (the date for establishing the list of persons eligible to participate in the Annual General Meeting of Shareholders), are eligible to receive dividends for 2009.

The Dividends declared for last year were:

- 5% of the face value for ordinary non-documentary shares
- 20% of the face value for preferred non-documentary shares with fixed dividend

The total amount of accrued dividends was RUB14,463,357.

#### Declared and accrued dividends on Bank Vozrozhdenie shares for 2009

| Declared and accrued dividends as % of the share’s face value | Amount of declared and accrued dividends, RUB ‘000
--- | --- | ---
Ordinary shares | 5 | 11,874
Preferred shares (fixed dividend) | 20 | 2,589
Total |  | 14,463

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## IR contacts

Tel.: +7 (495) 620 9071
Fax: +7 (495) 620 1953
Web-site: http://www.vbank.ru
Email: investor@voz.ru

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Related sections:

- Shareholder Structure
- Portrait of the Bank
- Social Responsibility

See also:

- Corporate Governance
- Information Disclosure
- Auditor
- Internal Documents