: Reuters: State firms should continue paying half of profit in divs - Russian FinMin

13:55 Apr. 16, 2016

Reuters: State firms should continue paying half of profit in divs - Russian FinMin

Anton Siluanov, Russia's finance minister, speaks during a meeting of the Russian Union of Industrialists and Entrepreneurs (RSPP) during Russia Business Week in Moscow, Russia, March 19, 2015. (Getty Images)

Ministry expects the national budget to rise due to selling state stakes

Russian Finance Minister Anton Siluanov said  that it should be mandatory for state companies, without exceptions, to continue spending 50 percent of their profit on paying dividends at least until 2019, Russian agencies reported.

Siluanov also said that the state budget may receive up to 1.5 trillion roubles (USD 22.6 billion) in 2016-2017 proceeds from selling state stakes in Russia's Rosneft, Bashneft, Alrosa and possibly VTB bank.

Read also Bentley, Lamborghini, Ferrari may leave Russian market

He also added that the ministry considers placing Eurobonds only in dollars or in euros and that the issue will take place only if the quality of interested investors remains as good as in Russia's earlier bond placements. (USD 1 = 66.4125 roubles) Full story

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