MOSCOW, September 28. /TASS/. The Moscow Exchange Supervisory Board has approved the group’s new strategy to 2028 and a new dividend policy, the exchange said in a statement. In particular, the new dividend policy implies a minimum dividend payout ratio at 50% of the group’s net profit under International Financial Reporting Standards (IFRS).

Previously, the minimum dividend payout ratio was 60%. Moscow Exchange will continue to pay dividends at least once every year.

Consistent implementation of the new strategy will allow the exchange to maintain an outpacing growth rate in fee and commission income over the strategic horizon and achieve steadily improving business efficiency in terms of cost-to-fee & commission income ratio and retain the business model’s profitability as measured by ROE of at least 18%, according to the statement.

"In the context of external constraints, the new strategy largely rests on trends in the Russian financial market," the Moscow Exchange said, adding that they include the increasing role of a retail investor, which is becoming a key figure in a number of financial market segments, the emergence of digital financial assets’ trading, and the growing need of Russian companies to raise capital in the domestic market.

"The development of capital markets is the most important priority of the new strategy. We aim to expand the list of instruments, including ESG products, and to improve their liquidity. The company will focus on working with issuers to guide and accompany them in raising capital market financing via equity, bond and DFA offerings, including those on OTC and investment platforms," the statement reads.