2023-05-24 11:07:25
Sberbank,
May 24, 2:07 p.m
Sberbank shares close dividend gap in 11 trading sessions
Sberbank securities won back the fall that occurred following the expiration of the period during which it was possible to buy securities for dividends. It took the stock only 11 trading days to do this.
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Photo: Mikhail Grebenshchikov / RBC
Ordinary shares of Sberbank rose in price on May 24 by 0.85% (up to ₽238.45 per share), preferred shares – by 1.17% (up to 234.75 per share), according to the data of the Moscow Exchange as of 13:26 Moscow time.
As a result, Sberbank shares closed the dividend gap in 11 trading sessions. As a result of trading on May 8, ordinary shares of Sberbank closed at ₽238.27. On Monday, May 10, they immediately fell in price by 4.7%, to ₽227.06. The reason for the collapse was the expiration of the period during which it was possible to buy Sberbank for dividends – until May 8 inclusive.
dividend gap – a significant difference between the opening and closing prices of the previous trading session following the expiration of the period during which it was possible to buy shares for dividends.
According to Vladimir Chernov, an analyst at Freedom Finance Global, an additional factor for the growth of Sberbank’s quotes might be an influx of funds following the news regarding the recommendation of the Board of Directors of Gazprom not to pay the final dividend for 2022. “As a result, investors preferred to shift to other Russian blue chips, including shares of Sberbank and NOVATEK, in order to avoid big losses due to the decline in Gazprom shares,” the expert said.
PSB also named the transfer of investor funds from Gazprom shares to Sberbank shares as the main reason for the growth of Sberbank shares. According to Promsvyazbank analysts, at the moment it is Sberbank’s papers that are the only reliable ideas where one can expect stable dividend payments and relatively low risks. The bank does not rule out that in the near future the flow of investors’ funds into the shares of Sberbank and LUKOIL will continue, which will allow the Moscow Exchange index to rise above 2660 points.
Gazprom will not pay dividends. What will happen to its shares and the market as a whole
The dividend policy of Sberbank provides for the payment to shareholders of 50% of the annual net profit under IFRS if the capital adequacy requirement of 12.5% is met. At the end of 2022, Sberbank earned a net profit of ₽270.5 billion. On March 17, the Supervisory Board of Sberbank recommended paying dividends in the amount of ₽565 billion, a record for the entire history of the bank. In April, Sberbank shareholders approved the payment of dividends for 2022.
The cost of ordinary shares of Sberbank has increased by 70% since the beginning of 2023. Preferred shares have risen in price by more than 66%. They have become the most popular securities in the portfolios of private investors of the Moscow Exchange. According to the exchange, ordinary and preferred shares of Sberbank in the portfolios of private investors in April 2023 occupied 32.7% and 8.5%, respectively.
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