Rusal dividends, ruble exchange rate, Twitter purchase deal: digest

Rusal's Board of Directors recommended not to pay dividends. The ruble continues to strengthen against the euro and the DOLLAR. Elon Musk's deal to buy Twitter is moving forward. notable events,

The Board of Directors of Rusal recommended not to pay dividends for 2021. This is stated in the company's message on the website of the Hong Kong Stock Exchange.

“The Board has decided to recommend to the Annual General Meeting of Shareholders not to distribute the profits generated in 2021 and not to pay dividends   ,” the report says.

In January 2022, the majority of Rusal's shareholders voted against the payment of dividends for the nine months of 2021. Then Sual Partners - the largest minority shareholder - called such a decision unreasonable and illogical.

Rusal last paid dividends in 2017.

Top 10 rates on deposits and savings accounts

The average rate of the 54 largest depository banks on deposits for a period of one year in the amount of ₽100 thousand as of May 20 is 8.43% per annum, according to the FRG100 index.

The most favorable deposit rate as of May 20, 2022 is 20% per annum.

Top 10 banks with high effective rates on deposits and savings accounts as of May 20, 2022:

SDM Bank - up to 20.77%; Alfa-Bank — up to 20%; BBR Bank - up to 19%; Novikombank — up to 18.05%; Sinara - up to 18%; Gazenergo - up to 18%; Solid Bank - up to 17.04%; Ayusolut Bank - up to 16.5%; BZHF Bank - 16.1%; Loco Bank - up to 16%.

Source: Banki.ru financial marketplace (the effective rate is calculated according to the Banki.ru methodology and is not an offer, detailed conditions are in credit institutions).

What can and cannot be done with dollars and euros. Actual guide Banking and finance , Currency , Moscow Exchange , Dollar , Euro

Ruble and euro exchange rates

On Thursday, an extremely rare event took place: the volume of trading in the euro exceeded the turnover in the dollar on the Moscow Exchange in the TOM mode. In euros, the volume amounted to ₽112.5 billion, in dollars - ₽85.3 billion, Vasily Karpunin, an expert at BCS World of Investments, drew attention. “Perhaps this is partly the effect of the start of buying Russian gas under a new scheme, when all EXPORT earnings from European consumers are converted into rubles,” the analyst suggested.

The euro exchange rate on Thursday for a short time fell below the dollar. At the low of the day, the European currency was trading at ₽61.1075. The dollar at a minimum was ₽61.55.

SberCIB expert predicts dollar strengthening to ₽73 by the end of the year Currency , Ruble , Dollar , Forecasts

Since the beginning of the week, the ruble has strengthened against the dollar by ₽2.64, the euro — by ₽2.75. “So far, no factors have been able to break this trend, which is fraught with a fall in budget revenues from exports,” writes Karpunin. Causes:

the volume of supply of foreign exchange earnings is so great that suppressed imports do not allow digesting these volumes; buying dollars in order to save money for many citizens is no longer so interesting in the new conditions.

“Without reducing the mandatory rate of sale of foreign exchange earnings of commodity exporters by 80%, it will be difficult to stop the ruble strengthening phase. The chances of a temporary decline in usd/RUB below ₽60 are growing,” the expert concluded.

Maxim Oreshkin called the ruble exchange rate absolutely market Ruble , Dollar , Euro

Twitter Promotions

The deal to sell Twitter to billionaire Elon Musk for $44 billion is progressing as planned, not on hold as Elon Musk has previously said. At the same time, the agreed purchase price of $54.2 per share will not be reviewed, BLOOMBERG writes, citing an appeal from Twitter top management to its employees.

Musk recently said that the deal to buy Twitter will not be completed until he receives data from the HEAD of the social network, Parag Agrawala, that there are less than 5% of fake accounts among users of the service.

Musk later said that he had suspended the deal to buy Twitter until after checking the number of fake accounts on the site.

“In the short term, Twitter shares may remain volatile and react sharply to the news background around the deal,” believes BCS World of Investments.

Retailer reports and the Fed's statement collapsed US stock indices NASDAQ, S&P500 , Banking and finance , Stocks

Wheat prices

Washington may temporarily lift sanctions on potash fertilizers in Belarus if the country allows the export of Ukrainian grain to Latvia, sources told The Wall Street Journal.

The interlocutors of the publication specified that these sanctions could be lifted for six months, if the Belarusian authorities agree, grain crops will be delivered by rail to the port of the Lithuanian city of Klaipeda.

WSJ learned about US plans to lift sanctions from MINSK in exchange for grain transit

Earlier, WSJ diplomatic sources reported that UN Secretary General António Guterres made a similar offer to Moscow. According to sources, he urged Moscow to ease export restrictions on fertilizers from RUSSIA and Belarus in exchange for the passage of ships with grain from Ukraine.

European wheat prices hit record high due to Indian export ban Agriculture, India, Ukraine

Last day to buy shares for dividends and other important events

Johnson & Johnson : last day to buy shares at a dividend of $1.13 per share; due date is June 7th.

Deere & Company Fiscal 2022 Q2 Financial Results, Pre-Market Opening, Adjusted EPS Forecast of $6.69, Revenue Forecast of $13.23B

From May 20, banks can sell any cash foreign currency to citizens without restrictions, except for US dollars and euros. On May 20, Vladimir Putin will hold a meeting of the Security Council via videoconference. Board of Directors of Kazanorgsintez. The issue of dividends for 2021 is on the agenda. Board of Directors of Rosseti Center. The issue of dividends for 2021 is on the agenda. Board of Directors of RussNeft. The issue of profit distribution is on the agenda. At the end of 2020, RussNeft paid dividends only on preferred shares in the amount of $0.612. No dividends were paid on ordinary shares. Baker Hughes will present weekly statistics on the number of US active drilling rigs How did the previous trading session ended Moscow Exchange Index: 2,436.57 (-0.36%) RTS Index : 1,245.71 (+2.73%) S&P 500 : 3,900.79 (-0.58%) DOW JONES Industrial Average : 31,253.13 ( -0.75%) NASDAQ Composite : 11,388.5 (-0.26%)

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Dividends are the portion of profits or free cash flow (FCF) that a company pays out to shareholders. The payout amount depends on the dividend policy. Their periodicity is also spelled out there - once a year, every half year or quarter. There are companies that do not pay dividends, but direct profits to business development or simply do not have the opportunity due to poor results. Stocks of dividend companies are most often of interest to investors who want to achieve financial independence or secure a decent standard of living in retirement. With the help of dividends, they create a source of passive income for themselves. More