Energy Ministry opposes 50% of net profit divs for all state firms

MOSCOW, Oct 3 (PRIME) -- The Russian Energy Ministry stands against compulsory payment by state companies of 50% of the net profit in dividends, Deputy Minister Yury Manevich said on the sidelines of the Russian Energy Week on Thursday.

“The position of the Energy Ministry: we are categorically against. We think that the issues of development of the industry must be discussed separately,” Manevich said. “We set a plan for every company that we oversee in order to ensure positive dynamics as compared with the previous year.”

Manevich said that compulsory payment would not take into account the social load of power grid holding Rosseti and special features of RusHydro’s operations in the Far East.

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