On 4 March 2021, the Moscow Exchange Supervisory Board recommended that the Annual General Meeting of Shareholders (AGM) approve a dividend for 2020 of RUB 9.45 per share, the highest ever dividend in the company’s history. For 2019, the dividend was RUB 7.93 per share.
The total recommended dividend amounts to RUB 21.5 bln, or 85% of the company's IFRS net profit for 2020.
The AGM will take place on 28 April 2021. The AGM record date is 5 April 2021.
According to the company’s dividend policy adopted in autumn 2019, MOEX seeks to pay the company’s entire free cash flow out in the form of dividends, subject to capital expenditures necessary to support the business and investment in the company’s future growth, as well as regulatory requirements imposed on MOEX’s subsidiaries such as National Settlement Depository (NSD) and National Clearing Center (NCC). The dividend payout floor was set at 60% of the company's consolidated net profit under IFRS.
Oleg Viyugin, Chairman of the Moscow Exchange Supervisory Board, said:
"MOEX delivered strong operating and financial results in 2020. This allowed the Supervisory Board to recommend that the upcoming AGM increase the dividend by almost 20% versus the 2019 payout. Moscow Exchange traditionally pays out in dividends one of the highest shares of net profit among Russian issuers, demonstrating our commitment to high quality corporate governance."
More than 190,000 individuals and more than 1,000 legal entities are shareholders of Moscow Exchange. The company’s free float stands at 63%, one of the highest free floats among Russian corporates.
