As explained by a senior source, “Vedomosti”, the authorities mean by “Gazprom” and “Transneft” when I made the decision about collecting from state-owned companies at least 50% of net profit under RAS or IFRS. According to him, will not be a disaster if the concessions asked other companies, since the budget is a small shortfall in income.
Another source indicated that the establishment of new standards increases the chances of collecting dividends from state-owned companies.
As specifies the edition, from a list compiled by the government, to pay 50% of profit under IFRS have already agreed “Bashneft” and “ALROSA”, while “Transneft” is ready for different options from 25 to 50 percent. In turn “Gazprom” to complete the installation of the government, it is necessary to increase payments to 200-250 billion rubles of Budget in this case will receive the additional 80-100 billion rubles..
Partner, KPMG Anton Usov indicates that not all companies expected to pay such dividends. In his opinion, it would be better to raise the level of selectively for those companies that do not require additional investment.
In turn, Fitch analysts believe that the growth dividend for 2015 to 50% will increase the pressure on credit profiles “RusHydro” and “Gazprom”, and also may force the gas company to increase loans or reduce large-scale capital investment program.