PRESS: Russia sees 50% of net profit in 2016 divs from state firms

MOSCOW, Mar 23 (PRIME) -- Russia’s Federal State Property Management Agency has sent a letter to state companies asking them to ensure they allocate at least 50% of net profit in dividends for 2016, business daily Vedomosti reported Thursday citing an employee of a state firm, a person familiar with the letter, and a government official.

The 2017–2019 budget was calculated based on such size of dividends and if state companies pay less the budget will have a shortfall in revenue, the agency said.

A government official said the letter is only a recommendation, while all decisions on dividends will be individual.

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