Stella-Bank set to pay out Rub 11.69 per-share dividends for 2008

PRIME-TASS. The Board of Directors at Stella-Bank, based in Rostov-on-Don, agreed upon an AGM recommendation for 2008 dividend payouts. More precise, dividends will equal Rub 11.69 per common share with Rub 100.00 par value each, the lending institution’s press service reported. The dividends will be paid out no later than 60 days from the time when the AGM decides to pay out dividends. The dividends will be paid in cash. The lender paid out 2007 dividends of Rub 2.73 apiece. No AGM date has been appointed so far.

According to the bank, 2008 net profit rocketed 2.53 times y-o-y to Rub 24.03 mln. Based on data from the Chief Directorate of the Central Bank of Russia in the Rostov region, as of January 1, 2009 Stella-Bank’s assets came to Rub 3.13 bln, including Rub 991.1 mln falling to credit investments, Rub 232.8 mln to equity capital, whereas credits, deposits and other funds attracted totaled Rub 757.6 mln, including Rub 615.5 mln of private deposits.

Stella-Bank was registered with the Central Bank of Russia in June 1994 as a closed joint stock company and was converted into an open stock company in February 1997. The lender’s charter capital equals Rub 180 mln (Rub 1.8 mln common shares with Rub 100.00 par value each). The lending institution’s sole shareholder (100% of the charter capital) is board chairman Konstantin Averin.