State firms face orders to allocate 25% of profits for dividends

The biggest Russian state companies will might have to seclude 25% of their net profit according to international standards of financial reports for payout of divident.

Ministry of finance has earlier suggested that in state ownership to the company payout the amount of 35 percent of their net profit in divident , but this idea was not supported by government, as said unknown clark of ministry of internal affairs Vedomosti.

While the suggestion of 35 percent for divident is refussed, ministry of finance hopes that 25 percent will be given to the government , because other ministries look for the ways how to “milk” from state companies for necessary incomes.

At the same time, changes could stimulate international investors to look at state companies. “One of the reasons why international investors don’t favour state companies is their low divident range.”, said Helen Lowen,the leader of Swedbank Robur Rysslandsfond.

Current annual divident of return of state companies can be low as 0 percent.Gazprom now pays the highest divident, of 4,2 percent, and the amount could be increased on 8,8 percent, if the plans of Government implement.

But, profitability of some state companies could be adjusted to state regulations.However, the prime minister Dmitrij Medvedev ordered the estimatation of price freeze for electricity, gas and railway transport placed by the state monopolyon economy.

Measure, which is considered as populist try to “favour” the citizens in battle with poor economy, supported by Ministry of finance and Ministry of economy development.



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