Russia may give state companies leeway on paying dividends to state: TASS

Russia’s economy ministry has
proposed exceptions for state-owned companies that have been
told to spend 50 percent of their profits on dividend payouts to
the government, TASS news agency reported on Friday.

The government said in April that companies including
natural gas giant Gazprom, diamond producer Alrosa, oil
companies Bashneft and Zarubezhneft, and RusHydro, Sovkomflot,
Transneft and Rosneftegaz must follow the policy in 2016.

The finance ministry has since proposed extending the order
over the next three years. But some companies, such as Gazprom,
have managed to pay less than ordered on dividends this year.

“We believe that there could be certain exceptions,” TASS
quoted Nikolai Podguzov, a deputy economy minister, as saying.

“We see that the government takes individual decisions on
dividends for a series of companies, depending on their
investment programmes.”

(Reporting by Lidia Kelly and Anastasia Teterevleva; Editing by
Ruth Pitchford)

The article Russia may give state companies leeway on paying dividends to state: TASS was originally published at Reuters - US Energy.