Higher dividends may create difficulties for Russia’s Rosneftegaz

MOSCOW, Apr 29 (PRIME) -- Russian state oil and gas holding Rosneftegaz believes that the government’s decision to oblige state-run companies to pay no less than 50% of a net profit in dividends will put its investment under pressure and create risks for its operations, the company said in a statement on Friday.

According to the ruling recently signed by Prime Minister Dmitry Medvedev, a state company should take the highest figure of its net profit – under Russian Accounting Standards (RAS) or under International Financial Reporting Standards (IFRS) – and allocate no less than 50% of the net profit for dividends.

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