Official: No exceptions for Russian firms from state dividend ruling

SOCHI, Oct 3 (PRIME) -- There will be no exceptions for Russian state companies from the government’s ruling to pay 50% of net profit in dividends for 2015, Deputy Prime Minister Arkady Dvorkovich told reporters on October 1 on the sidelines of the Sochi international investment forum.

According to the ruling signed by Prime Minister Dmitry Medvedev in May, a state company must 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 2015 dividends.

“We are not discussing any exceptions so far” Dvorkovich said.

On September 26, Deputy Finance Minister Alexei Moiseyev said that the ministry submitted a draft ruling to the government on an indefinite prolongation of the dividend ruling.

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