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Features and Risks of the Dividend Policy of Russian Joint-Stock Companies
[Особенности И Риски Дивидендной Политики Российских Акционерных Обществ]

Author

Listed:
  • Abramov Alexander

    (Russian Presidential Academy of National Economy and Public Administration)

  • Belyakov Yury

    (Russian Presidential Academy of National Economy and Public Administration)

  • Radygin Alexander

    (Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration)

  • Chernova Maria

    (Russian Presidential Academy of National Economy and Public Administration)

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.

Suggested Citation

  • Abramov Alexander & Belyakov Yury & Radygin Alexander & Chernova Maria, 2021. "Features and Risks of the Dividend Policy of Russian Joint-Stock Companies [Особенности И Риски Дивидендной Политики Российских Акционерных Обществ]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 8, pages 37-46, August.
    • Handle: RePEc:gai:recdev:r2187
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    More about this item

    Keywords

    payment of dividends; dividend policy; stock returns; Russian companies; SOE; IPO;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G35 - Financial Economics - - Corporate Finance and Governance - - - Payout Policy
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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