Features and Risks of the Dividend Policy of Russian Joint-Stock Companies

Особенности и риски дивидендной политики российских акционерных обществ

Alexander Abramov, Belyakov Yury, Alexander Radygin and Maria Chernova
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Belyakov Yury: Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2021, issue 8, 37-46

Abstract: Russian joint-stock companies are actively using the dividend policy to increase the attractiveness of their stocks for private investors. The adoption of new, uniform rules for the payment of dividends by state-owned enterprises can not only attract investors but also solve the fiscal problems of the budget. At the same time, the policy of increasing dividend payouts is associated with increased risks of a slowdown in the growth of market capitalization and an underperforming of their stocks in terms of total return to investors. Constant monitoring of these risks is required.

Keywords: payment of dividends; dividend policy; stock returns; Russian companies; SOE; IPO (search for similar items in EconPapers)
JEL-codes: E22 G32 G35 G38 (search for similar items in EconPapers)
Date: 2021
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