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Russian lender OAO Sberbank (SBER.RS) is studying a potential deal to buy a stake in General Motors Corp.'s (GM) German unit Adam Opel AG and has recommended a 2008 dividend pay-out equal to 10% of net profit, the bank's chief executive said Friday.

State-controlled Sberbank will decide "in the nearest future" on the Opel transaction, CEO German Gref told reporters, without giving further details.

Prime Minister Vladimir Putin said recently that Canadian auto parts manufacturer Magna had invited Russian banks and auto maker OAO GAZ Group (GAZA.RS) to join a potential bid for Opel.

Separately, Sberbank plans to pay a 2008 dividend of RUB0.48 per ordinary share and RUB0.63 per preferred share.

The bank paid RUB0.51 per common share and RUB0.65 per preferred share in dividends for 2007, also equating to around 10% of net profit for that year.

Shareholders will be able to vote on the proposal at Sberbank's annual general meeting, to be held in June.

The AGM will also ask shareholders to approve a mechanism that would simplify the issue of new stock in the future, should Sberbank need additional capital.

Gref said the bank's capital adequacy ratio is comfortable at present. But shareholders will likely approve a scheme under which the board could authorize the issue of up to 15 billion new shares to raise as much as RUB500 billion ($15.6 billion) in new capital.

Gref said this mechanism would be available to the board for six months. Any capital increase would be open to all investors, not just the state.

Bank Web site: www.sbrf.ru

-By Andrew Langley, Dow Jones Newswires; +7 495 937 8445; andrew.langley@dowjones.com