Russias VTB plans to increase 2012 dividends

Wednesday 27th March, 2013

MOSCOW, March 27 | Wed Mar 27, 2013 3:23am EDT

MOSCOW, March 27 (Reuters) – VTB, Russia’s No.2 lender by assets, sees its 2012 results at least in line with the previous year and plans to increase its dividend payout, Chief Financial Officer Herbert Moos said on Wednesday.

“Despite a relatively difficult year, amid great volatility in the share price, VTB bank plans to propose an increased dividend payout,” Moos said in a statement published by VTB on its web site.

Shares in VTB rose 0.7 pct on the news after on Tuesday falling to their lowest levels since September 2009.

The bank has a large subsidiary in Cyprus, which last weekend agreed a 10 billion euro ($12.86 billion) bailout from the European Union under which two other Cypriot banks will be restructured. ($1 = 0.7777 euros) (Reporting by Katya Golubkova; Editing by Douglas Busvine)

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