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Moscow Exchange (MOEX), or Moskovskaya Birzha MMVB-RTS PAO(MCX:MOEX), the biggest Russian venue for trading FX, derivatives and stocks, held its Annual General Meeting of Shareholders (AGM) earlier today.
Shareholders approved the company’s annual report, financial statements and distribution of profit, including dividends for 2015.
In tune with a recommendation by the Supervisory Board, shareholders voted to pay a dividend for 2015 of RUB 16.82 billion ($258 million), or 58.2% of consolidated IFRS net profit. This equals RUB 7.11 per share, representing a dividend that is nearly two times higher than that paid the previous year (RUB 3.87 per share).
Under the Moscow Exchange Dividend Policy approved in December 2015, the size of the dividend should be at least 55% of consolidated IFRS net profit. The dividend will be paid no later than 20 June this year. The record date has been set for 16 May 2016.
Shareholders also approved the new composition of the Supervisory Board. The newly elected Supervisory Board includes:
- Alexander Afanasiev, CEO, Executive Board Chairman, Moscow Exchange
- Yuan Wang, independent director;
- Sean Glodek, member of the Executive Board, Deputy General Director at RDIF, non-executive director;
- Andrey Golikov, Deputy Chairman of the Supervisory Board of Moscow Exchange, non-executive director;
- Mariya Gordon, Member of Supervisory Board, PJSC ALROSA, independent director;
- Valery Goreglyad, Chief auditor at Bank of Russia, non-executive director;
- Yuriy Denisov, Deputy Chairman of Supervisory Board of NCC Clearing Bank, non-executive director;
- Bella Zlatkis, Deputy Chairman of the Executive Board at Sberbank, non-executive director;
- Anatoly Karachinsky, President of IBS Group IBS, independent director;
- Alexey Kudrin, Chairman of the Moscow Exchange Supervisory Board, non-executive director;
- Duncan Paterson, independent consultant, independent director;
- Rainer Riess, Director General, Federation of European Securities Exchanges AISBL, independent director.
Ernst & Young Vneshaudit LLC was appointed as independent auditor for 2016.
You can view the full announcement from MOEX by clicking here.