The Ministry of economic development ordered to finalize the regulation on dividend policy


Moscow. January 26. The draft government Executive order on improving dividend policy, which was prepared by the Ministry of economic development, the White house returned to the Ministry for revision, said an informed source in the financial-economic bloc of the government.

According to him, the Ministry in mid-December submitted to the government the corresponding draft resolution, which was agreed with the Finance Ministry, Federal property management Agency and the Federal Antimonopoly service, but with the comment from the antitrust authorities.

In particular, FAS considers it necessary to provide in the draft order, as an exception, the possibility of reducing the size of dividends paid by them on investment projects on the basis of the act government.

Therefore, the government returned the draft to the Ministry of economic development requesting its further work and to submit the document together with the opinion of the Ministry of Finance on the financial implications of the adoption of this order, told the Agency interlocutor.

The Ministry of economic development and the Federal property management Agency in November, has prepared a draft Executive order that proposed to oblige all companies to send dividends 25% of IFRS net profit, if it is more profit under RAS.

In addition, it is assumed that under the current wording of the Directive exceptions to payment of not less than 25% of the net profit for state-owned companies will be no more.

For natural monopolies, it is proposed to establish more stringent requirements on dividend policy than to all companies – when the dividends are calculated not only as the most of profits under RAS and IFRS, but also from tariff profit, the FAS take into account when calculating tariffs.

The Minister of economic development Alexei Ulyukayev in November, said that he expects that these innovations can already come into force in 2016, when calculating dividends by the end of 2015.