Moscow Exchange agrees on new dividend policy

Moscow Exchange, or Moskovskaya Birzha OAO (MCX:MOEX), the biggest Russian venue for trading currencies, shares, and derivatives, has revised its dividend policy.

During a meeting held on September 23, 2015, the Supervisory Board of the Exchange approved a new dividend policy, raising the payout floor from previous level of 50% to a new level of 55% of the Group’s net profit under IFRS.

Alexander Afanasiev, Chief Executive Officer of Moscow Exchange, commented:

“Moscow Exchange’s updated dividend policy underscores the record payout ratio that the Company achieved in 2014, when we returned 55% of net profit to shareholders, against a target of 50%. This now forms the floor for future dividends.”

“Other fundamentals of the policy remain unchanged: the percentage of net profit available for dividends will be determined by the capital needs of the Exchanges subsidiaries, primarily the NCC Clearing Bank, which acts as the Central Counterparty, as well as funding requirements for capital investments into IT infrastructure and potential acquisitions,” he added.

MOEX paid a total of RUB 8.8 billion in dividends to its shareholders for full year 2014.

To view the official announcement from the Moscow Exchange on the new dividend policy, click here.

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