Russia Said to Project $18 Billion State Dividend Plunge
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Russia plans to receive almost $18 billion less in dividends from state-controlled companies in 2016 as OAO Gazprom and OAO Rosneftegaz trim payouts, a Finance Ministry document shows.
The government envisages 2016 dividend revenue of 152.1 billion rubles ($4.4 billion), down from a previous forecast of about 761 billion rubles, according to Finance Ministry projections provided to the government and obtained by Bloomberg News. The ministry raised its 2015 dividend-revenue forecast by 28.7 billion rubles to 229 billion rubles and estimates 2017 revenue at 167.3 billion rubles as payouts climb 10 percent from 2016, the document shows.