25 Mar 2010 18:48

Bank Saint Petersburg could reduce dividends for 2009

ST. PETERSBURG. March 25 (Interfax) - The supervisory board of Bank Saint Petersburg made a recommendation to its shareholders at an annual meeting to approve a dividend payment for 2009 coming to 0.11 rubles per common and preferred shares at a face value of one ruble, the bank said in a statement.

For 2008, the bank played the same amount of dividends.

The bank's annual shareholder meeting is slated for April 29. The list of shareholders with the right to participate is based on the registrar as of March 10.

The meeting's agenda includes approval of the bank's financial results for 2009, profit distribution, auditor selection and the election of the supervisory board.

The bank's charter capital comes to 367.46 million rubles divided into 282.15 million common shares and 85.311 million preferred shares at a face value of one ruble.

Bank chief Alexander Savelyev owns 29.9% of ordinary shares outright. He also owns a 19.36% stake in System Technologies LLC and 19.9% in Issardy Holdings Ltd., which respectively own 19.36% and 7.99% of shares in the bank.

Bank St. Petersburg was the 17th biggest Russian bank by assets according to the Interfax-100 list as of the end of 2009.