MTS Bank confirms plans to start paying out dividends in 2025

MOSCOW. Aug 27 (Interfax) - MTS Bank has confirmed plans to pay out the first dividends based on the results of 2024, meaning in 2025, MTS Bank Executive Board Chairman Ilya Filatov said.

"We are not planning to pay out dividends before 2025. We will pay out dividends based on the results of 2024 as part of a large group, and we do not expect any interim payments," Filatov said during a conference call with investors.

MTS Bank plans to allocate from 25% to 50% of its profit to International Financial Reporting Standards (IFRS) for dividends under the new dividend policy.

MTS Bank held an IPO at the end of April 2024, during which it raised 11.5 billion rubles in capital, taking into account the amount of the stabilization package, namely shares placed at 2,500 rubles each.

The placement comprised exclusively additional cash-in issue shares. The bank's majority shareholder, PJSC MTS , did not sell its shares, retaining a controlling stake in the capital following the IPO.