MINSK. March 12 (Interfax) - Belarusian Priorbank, a subsidiary of Raiffeisen International Bank-Holding AG, will pay 85.6 billion Belarusian rubles (2,950 Belarusian rubles/$1 on March 12, 2010) in dividends for its operations in 2009, which is a 150% increase from 2008, the bank told Interfax.
The bank's annual shareholder meeting was held on Friday in Minsk.
For 2009, the bank will pay 695 Belarusian rubles for a common share and 1,675 Belarusian rubles for a preferred share. The dividend payment will take place no later than April 1, 2010. The face value of all shares comes to 3,350 Belarusian rubles.
Priorbank's net profit in 2009 came to 171.2 billion Belarusian rubles, which is an 86% increase from 2008. In addition to the dividend fund, 45.6 billion Belarusian rubles from 2009 profit will go to the reserve fund while 40 billion Belarusian ruble will go towards the development fund.
Therefore, 50% of the bank's net profit for 2009 will be put towards the dividend payment, up from 38% of net profit in 2008.
The bank's charter capital comes to around 412.3 billion Belarusian rubles.
The bank's shareholders are Raiffeisen International Bank-Holding AG - 87,74%, RUP PO Belorusneft - 2.04%, Goskomimushchestvo Belarus - 1.7%, OJSC MAZ - 1.28% and other shareholders - 7.24%.
Priorbank was 82nd largest CIS bank and third biggest Belarusian bank by assets at the end of the first half of 2009 according to the Interfax-1000: Banks of the CIS, compiled by the Interfax Center for Economic Analysis (CEA).