Shares of the day: Sberbank shares are growing on expectations of dividends (November 10, 2022)

The securities of Sberbank became the leaders of trading following the results of the session on the Moscow Exchange on Thursday, November 10. Ordinary shares rose by +6.56% to 135.65 rubles per share, while preferred shares rose by +6.72% to 129.53 rubles per share.

Interest in securities increased after the publication of the company’s report for 10 months of 2022. Net profit according to RAS since the beginning of the year exceeded 50 billion rubles, and in October the bank earned 122.8 billion rubles.

“This means that the chances of dividends increase. In addition, management has promised to regularly disclose details of the business. So, the nebulae will be a little less. In total, Sberbank can earn 300 billion rubles in 2022. That is, 50 billion rubles for 10 months + 122 billion rubles for November and December, if the growth rate of profits continues. 150 billion rubles will go to dividends. After all, Sberbank’s divergence policy involves payments in the amount of 50% of net profit. According to rough calculations, the yield by the end of 2022 could be 5.5% at a share price of 132 rubles,” calculated Evgeny Kovalenko, the author of the Lemon for Tea Telegram channel.

The Moscow Exchange Index by the end rose by +2.01% to 2210.02 points. The RTS index rose by +3.27% to 1150.36 points. As of 20:59 Moscow time, Brent crude stood at $93.67 per barrel (+1.10%). The Russian currency strengthened – 60.53 rubles. per dollar.

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