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VTB to allocate record high $3.5 bln to 2024 dividends

These will be the first dividends paid by VTB since 2021

MOSCOW, July 1. /TASS/. Shareholders of VTB Bank approved dividends for 2024 at the annual general meeting.

Record high 275.75 bln rubles ($3.5 bln) or 50% of the group’s net profit under the International Financial Reporting Standards for the last year will be allocated for distributions, the bank said.

These will be the first dividends paid by VTB since 2021.

"We understand that payment of dividends is the act of confidence and the basis of long-term relations with the shareholders, and therefore recommended the meeting to consider the issue of resuming dividend distributions a year earlier than stipulated in our strategy for 2024-2026. Our strong financial results, resilience of the business and transparency of the dividend policy underlie this decision. According to corporate procedures, crediting of dividends will be completed by the end of August," First Deputy CEO Dmitry Pyanov said, cited by the VTB press service.

July 11 is the date to determine the persons eligible for dividends. The shareholders also approved the annual report for 2024.

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