Russian ministry may cut divs payout limit for some state firms
MOSCOW, Oct 14 (PRIME) -- Russia’s Energy Ministry may suggest the government cut the obligatory 50% of the net profit dividend payout for some state companies, Deputy Energy Vyacheslav Kravchenko told reporters on Friday on the sidelines of a conference.
According to a ruling signed by Prime Minister Dmitry Medvedev in May, a state company must take the highest figure of its net profit – under RAS or IFRS – and allocate no less than 50% of the net profit for 2015 dividends. In September, Deputy Finance Minister Alexei Moiseyev said the ministry submitted a draft ruling on an indefinite prolongation of the dividend ruling.
“We are looking at that right now, and if we see that this decision is difficult for some of our power companies – not all of them, but some of them – we will put forward the initiative to slash the dividend payments,” Kravchenko said. “We will now study it and analyze it.”
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