Dividendnyj feast during a plague
the companies will not reduce payment to shareholders, despite crisis
the Russian companies following the results of 2009 do not hasten to reduce dividendnye payment as, however, it was and following the results of 2008. According to rating agency “ eks pert RA “ this year shareholders can receive in the form of dividends more than 1 trln rbl. However, basically on money can count aktsio nery the oil and gas companies.
According to the review “ Dividends - 2010: a feast during a plague “ distribution of the profit earned in 2009 becomes a pleasant surprise for shareholders of the Russian corporations in 2010: the third year successively it will add more than 1 trln rbl. of dividends. According to the assistant to the general director “ Expert RA “ Pavel Samieva, in crisis as practice shows, the companies politicians spend reduction dividendnoj. “ It is not necessary to forget and statements of the authorities almost in all countries that now not time of the big bonuses to management of the companies, and also dividends to shareholders “ - speaks g - n Samiev. But, despite it, neither last year, nor in it reduction of dividends in Russia is not planned. “ probably, it is possible to explain it to that the large companies not so have suffered from crisis, predictably “ - Pavel Samiev considers.
More than 80 % of dividends majority private proprietors of the Russian companies, while to minority shareholders and state blow ­ will receive; stvu will get less than 200 mlrd rbl. It is remarkable that the share of the companies under state control in total capitalisation of emitters makes of RTS index about 60 %. But dividends from state companies for the budget of weather do not do, on skolku form less half-percent from all federal incomes.
by an estimation “ Expert RA “ About third of payments it is necessary on ten most generous concerning dividends of the companies. The absolute leader, most likely, remains former: shareholders “ the multinational corporation - BP Holding “ at extraordinary meeting on December, 10th have already approved dividends for nine months on 114,4 mlrd rbl., traditionally having distributed a lion`s part of profit on RSBU - about 64 %. As a whole on oil and gas sector it is necessary more than 80 % of profit of the largest public corporations in the Russian economy, oil industry workers and gazoviki and will provide the basic contribution to payment of dividends.
however, in comparison with the USA and the European countries in Russia number of the companies which annually raise dividends, much less. From 200 most expensive Russian companies payments of dividends in 2009 have refused 128 against 108 in 2008. The longest period of continuous growth of dividends under the actions entering into an index of the Moscow Interbank Stock Exchange, is fixed at LUKOIL. However it is difficult to tell that it has positively affected company quotations: LUKOIL actions as of the end of 2009 lost to dynamics of an index of the Moscow Interbank Stock Exchange on three - five - and ten years` horizon. At the same time actions “ Polymetal “ the unique emitter from the index of the Moscow Interbank Stock Exchange which is not paying dividends, have beaten an index from the moment of the conclusion to a stock exchange.
an analyst under actions UniCredit Securities Vladimir Kuznetsov is less optimistical in an estimation dividendnoj politicians. The majority of the Russian companies is in a stage of growth and never differed high - concerning stock quotes - dividendnymi payments, short of last year when estimation of cost of the majority of the companies has been strongly underestimated. Thus, considers g - n Smiths, the next year should be more successful as the number of the companies grows, planning to pay dividends for 2010. Some of them renew payments after the decision of problems with considerable debts (“ Vym pelkom “ MMK), others join for the first time to paying dividends (“ the Magnet “ “ Holding MRSK “ and CTC Media).