In the state Duma did not support the draft law on the dividends of state companies to 50% profit

© RIA Novosti / Vladimir Fedorenkova in photobanks the building of the State Duma of the Russian Federation in Moscow. Archival photoIn the state Duma did not support the draft law on the dividends of state companies to 50% profit© RIA Novosti / Vladimir Fedorenkova the image Bank

The state Duma Committee on natural resources, property and land relations recommended the lower chamber of Parliament to reject in the first reading two draft laws obliging state-owned companies to direct on dividends not less than 50% of the profits.

«The theme we have often discussed, we have parliamentary hearings early next year on management of state property… We have received from the government of the Russian Federation a negative review, as well as from the Bank of Russia, audit chamber and legal Department of the apparatus of the state Duma», — said at a meeting of the Committee, its Chairman Nikolay Nikolaev. To the state Duma, according to him, the bills will be submitted on 11 December.

The first bill introduced by deputies from «Fair Russia» Sergei Mironov, Mikhail Emelianov, Alexander Remezkova, Oleg nilavum, and Oleg Shein. They believe that the current standard is 25% of the dividends required to be paid from net income, which is fixed by decree of the RF government creates artificially low returns on invested capital, which leads to the presence of unreasonable advantages for state-owned companies.

The second bill introduced by deputies from LDPR Vladimir Sysoyev, Andrew Andreychenko, Sergei Karginov, Danil Celkovym and Boris by Pakinam. The document was developed in order to establish a uniform dividend policy of JSC, whose shares are in Federal ownership, as well as providing revenues to the Federal budget of the profit of Federal state unitary enterprises.

The government believes that the proposed changes «limit shareholders in the realization of the rights provided to them in accordance with the civil legislation». The existing legal framework allows shareholders to decide on the feasibility of the dividend payment and the size of the received results of the company for the reporting year net profit, reminiscent of the Cabinet.

Russia’s audit chamber believes that the decision on payment of dividends in the amount of not less than 50% of net profit in the long term can have a positive influence on the formation of profitable base of the Federal budget. «However, in the face of economic sanctions the consolidation of this norm in the Federal law and the abandonment of the existing more flexible mechanism of regulation of dividend payouts by the government of the Russian Federation with the purposes of further use of the funds remaining at the disposal of societies, their development is premature», — stated in the conclusions of the office on both bills.

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