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(Corrects dividend payout and allocation to state budget after Kremlin changes statement on its website)
MOSCOW, Feb 22 (Reuters) - Russia's largest bank Sberbank will pay 20 percent of net profit in dividends on its 2016 financial results, the bank's Chief Executive German Gref told President Vladimir Putin on Wednesday.
Gref told Putin that the dividends would amount to over 100 billion roubles ($1.7 billion), of which more than 50 billion would be directed to the state budget via the central bank, according to a statement on the Kremlin website.
$1 = 57.8000 roubles Reporting by Alexander Winning; Editing by Maria Kiselyova