Russia Said to Backtrack on Higher State-Company Payouts
- Minimum 25% threshold seen after failed 2016 push for more
- Gazprom, Transneft resisted state push to reap higher payouts
This article is for subscribers only.
Russia is preparing to abandon years of efforts to wrest higher dividends from state-owned companies, effectively conceding defeat after facing intense pushback against government plans from some of the nation’s corporate giants.
The government is planning to reduce the minimum payout to 25 percent of net income under international accounting standards, closer to where it was before an increase to 50 percent last year, according to two officials familiar with the matter. They asked not to be identified because the discussions aren’t public and there is no final decision. Authorities will continue to push for higher rates from some companies, one of the people said.