RIA NOVOSTI. Russian President Vladimir Putin has approved an approach presented by Prime Minister Dmitry Medvedev towards dividend payouts at all state-owned enterprises at a rate of 50% of net profit, first vice PM Igor Shuvalov said.
"The president approved an approach presented by the prime minister towards the payout of dividend at all state-owned enterprises mainly at a rate of 50% of profit," Shuvalov told journalists.
The Finance Ministry previously submitted to the Russian government a draft executive order, setting dividend payouts at 50% of net profit for state-owned enterprises. Federal budget revenues for 2017 were calculated based on this these dividend payouts. In 2016, the government lifted the dividend payout bracket for the biggest state-owned enterprises from 25% to 50% of profit under IFRS or RAS (the highest of the two), and the Finance Ministry insisted on extension of the rule.
A government source said earlier on Thursday that Russian authorities decided that state-owned enterprises will mainly pay out 50% of profit in dividend for 2016, but there may be exceptions, in particular a separate decision will be taken on Rosneftegaz.