Source: Finance ministry suggests paying 50% of profit in dividends

MOSCOW, Feb 9 (PRIME) -- Russia’s Finance Ministry has sent to the government a draft law envisaging that 50% of state-owned companies’ profit should be paid in dividends, a source with the government told PRIME on Thursday.

In 2016, the government temporarily increased the amount of dividends paid by state-owned companies from 25% to 50% of a bigger net profit under the Russian Accounting Standards or the International Financial Reporting Standards, and may prolong the initiative. The 2017 budget was designed taking this into account. Finance Minister Anton Siluanov earlier said this rule should be adopted at regular.

First Deputy Prime Minister Igor Shuvalov said dividend payments at 25% should be maintained for select companies.

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