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Moscow Exchange, or Moskovskaya Birzha OAO (MCX:MOEX), the biggest venue for trading shares, currencies and all sorts of derivatives in Russia, has just published the results of its Annual General Meeting of Shareholders (AGM), held earlier today.
Amid the main decisions at the meeting is the approval by the shareholders of the corporate annual report for 2014, FY 2014 financial statements and distribution of profit, including dividends for FY 2014.
In accordance with recommendations of the Supervisory Board, shareholders voted to pay total dividends for 2014 of RUB 8.82 billion (USD 169m), a sum that equals 55.12% of MOEX’s consolidated net profit for last year. The dividend per ordinary share will be RUB 3.87.
Dividends will be paid no later than June 16, 2015. The record date has been set at May 12, 2015.
The meeting saw several important management decisions being made. The supervisory board re-elected Alexey Kudrin as Chairman, whereas Andrey Golikov was re-elected as Deputy Chairman. Alexander Afanasiev was re-elected as CEO / Chairman of the Executive Board for coming three years.
The shareholders also gave a nod of consent to the new composition of the Supervisory Board, to include 15 directors:
- Nicola Beattie, Senior Executive Director, NBXC (non-executive director);
- Mikhail Bratanov, Head of Societe Generale Securities Services for Russia and CIS, Head of Depository Department at Rosbank (independent director);
- Wang Yuan (independent director);
- Sean Glodek, Director, Russian Direct Investment Fund (non-executive director);
- Andrey Golikov, Co-Chairman of the Board of Directors, National Securities Market Association (non-executive director);
- Valery Goreglyad, Chief Auditor, Bank of Russia (non-executive director);
- Yury Denisov, Deputy Chairman of the Supervisory Board, National Clearing Center (non-executive director);
- Bella Zlatkis, Deputy Chairman of the Management Board, Sberbank (non-executive director);
- Anatoly Karachinsky, President, IBS Group (independent director);
- Alexey Kudrin, Dean of the Faculty of Liberal Arts and Sciences, St. Petersburg State University (non-executive director);
- Sergei Lykov, Executive Board Deputy Chairman, Vnesheconombank (non-executive director);
- Reiner Riess, Director General, Federation of European Securities Exchanges (independent director);
- Andrey Sharonov, Dean of the Moscow School of Management Skolkovo (independent director);
- Kirill Shershun, Executive Board First Deputy Chairman, CentroCredit (non-executive director);
- Alexander Afanasiev, CEO, Moscow Exchange.
Shareholders supported a proposal to change the company’s name. The new one will be Public Joint Stock Company Moscow Exchange MICEX-RTS, in oder to meet the standards of the Russian Civil Code.
Ernst & Young Vneshaudit was named as MOEX’s independent auditor for 2015.
To view the official press release by MOEX on the results of its AGM, click here.