Moscow Exchange completes dividend payments
Moscow Exchange announces it has completed dividend payments for FY 2019. The total sum paid was RUB 18.1 billion, representing 89% of 2019 consolidated net profit under International Financial Reporting Standards (IFRS).
The dividend was RUB 7.93 per ordinary share. Most shareholders received dividends via the nominee holder (National Settlement Depository) on or before 29 May 2020 with all other shareholders receiving payments by 22 June 2020.
The dividend was approved at the company’s Annual General Meeting of Shareholders on 28 April 2020, in line with the recommendation of Moscow Exchange's Supervisory Board. The record date was 15 May 2020.
There are nearly 120,000 individual and approximately 1,000 institutional shareholders of Moscow Exchange. The company’s free float stands at 63%, one of the highest free floats among Russian publicly traded companies.
According to the new dividend policy adopted by the Supervisory Board in Autumn 2019, the dividend payout floor is 60% of net profit for the year. The company seeks to pay the entire free cash flow out in the form of dividends.