Moscow Exchange, or Moskovskaya Birzha OAO (MCX:MOEX), today announced the completion of payments of dividends for full year 2014. As stated in an earlier LeapRate report, shareholders in the group agreed at the annual general meeting in April to pay out a dividend of RUB 3.87 per ordinary share. As of today, the payout is completed.
The sum paid out to shareholders exceeds RUB 8.8 billion (USD 164 million), with a total of RUB 7 billion in dividends paid to nominee holders on May 25, 2015. On June 16, 2015 – RUB 1.8 billion was paid to all other shareholders.
The sum accounts for 55.12% of MOEX’s 2014 consolidated net profit. The Exchange saw its net income increase 38.1% year on year to RUB 15.99 billion in 2014, with a big part of that success due to the robust performance of the Forex segment.
MOEX’s fee and commission income from the Forex market jumped 41.3% in annual terms to RUB 3.41 billion last year, whereas trading volumes on the FX market totaled RUB 228.5 trillion, up 46.5% year on year.
In conclusion, we should point out that generous dividends are envisaged in the Moscow Exchange Dividend Policy adopted in early 2013. Under its terms, MOEX’s shareholders were entitled to dividends representing at least 50% of the company’s IFRS net profit for 2014.
To view the official announcement, click here.