Russia To Consider 25% Dividend Payout Proposal - Report
04/02/2012| 04:34am US/Eastern
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The Russian government will soon consider a proposal envisaging Russian state-controlled companies paying 25% of their net profit as dividends, the Vedomosti newspaper reports Monday, citing Alexei Uvarov, head of the Economy Ministry's state property department.
Under the proposal, which has been discussed since 2010, Russian state-controlled companies such as OAO Transneft (TRNFP.RS), OAO Gazprom (GAZP.RS) and MRSK Holding (MRKH.RS), including their subsidiaries, would pay 25% of net profit under Russian accounting standards in dividends to shareholders.
The proposal has been agreed with all relevant ministries except the Energy Ministry. No date has been set for the proposal to be reviewed by the government, Vedomosti said.
Newspaper website: www.vedomosti.ru
-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495 232-9197, jacob.pedersen@dowjones.com
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