Dividends and dividend policy

The dividend policy of Bank Vozrozhdenie is defined in the Regulations on dividend policy of Bank Vozrozhdenie approved by the Board of Directors on September 30, 2011. The policy is aimed at maintaining a balance between distributing dividends and increasing the capitalisation of the Bank through reinvestment in the Bank’s development.

Dividends, in accordance with the dividend policy of the Bank, may not exceed 10% of net profit in the previous financial year. Dividends on preference non-documentary registered shares in accordance with the Articles of Association of the Bank are 20% of the nominal value of the shares. All dividends shall be paid in cash, net of tax, within 60 days from the date of the decision on dividend payment by the Annual General Meeting of Shareholders.

According to the decision of the AGM dated June 28, 2013, the size of the 2012 dividend on ordinary shares was 5% of their nominal value, while on preference shares — 20% of their nominal value. The total sum of accrued dividends amounted to 14.5 million roubles.