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Investing.com -- VTB, Russia’s second largest bank, revealed on Monday its decision to issue its first dividend payment since the beginning of the war in Ukraine. This announcement led to a 25% rise in the bank’s shares, as per the data from the Moscow Stock Exchange.
The bank’s board recommended a payout of 50% of its 2024 profits to shareholders, a move that was not anticipated. The CEO of VTB, Andrei Kostin, attributed this decision to the bank surpassing its targets for the previous year.
Kostin stated, "This will ensure a record dividend yield, contribute to the long-term sustainable growth of VTB’s shareholder value, and increase investor confidence in both VTB’s shares and the domestic stock market as a whole."
Prior to this, VTB had intended to recommence regular dividend disbursements in 2026. The recent decision marks a significant shift in the bank’s approach towards its dividend payouts.
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