21 Oct 2019 13:41

Requirement that state companies pay 50% of profit as dividends works even without government resolution - Siluanov

WASHINGTON. Oct 21 (Interfax) - The requirement that companies with state participation pay dividends in the amount of no less than 50% of net profit is already fixated sufficiently, and there is no direct need to formalize it via a government resolution, First Deputy Prime Minister and Finance Minister Anton Siluanov told reporters in Washington on Monday.

"We have a protocol from the leaders of government that, as a rule, 50% [of profit should be allocated towards dividends], and if there are companies which receive their revenue proceeding from tariffs requiring approval, we consider these separately," Siluanov said when asked about when a government resolution might be put out formalizing the 50% threshold.

"We have enough documents which indicate that [revenues] must be split 50/50 with the state," Siluanov said, joking that only a federal law or the Constitution could set down the 50% norm in perpetuity.