Investors in Russia can once again count on interim dividend payments

Another important factor is that the practice of interim payments is being resumed by issuers that have completed the redomiciliation process or taken a pause due to the geopolitical events of 2022. The trend for 2024 has been to increase the frequency of dividend payments; this has a positive effect on the market.

The publication’s journalists report that in August the boards of directors of 28 issuers recommended paying annual (for 2023) and interim (second quarter or first half of 2024) dividends totaling 650 billion rubles.

Final decisions on payments will be made at extraordinary shareholders’ meetings, where their size will be determined, which may be smaller or larger. The leader in terms of the amount of such payments for the indicated period is the oil company Gazprom Neft, which plans to pay 246.4 billion rubles, or almost 52 rubles per share, in the first half of the year. The yield in this case will be almost 8% and will be one of the best. The second place and 107.8 billion rubles is occupied by the gas company NOVATEK.

Issuers planning to pay dividends in the coming months include companies that have undergone redomiciliation: Yandex, MD Medical Group and MMCD.

Cyan Technologies Ltd. (holding company “Cyan”) submitted an application for re-domiciliation to Russia and sent the necessary documents for registration in the special administrative region (SAR) on Oktyabrsky Island in the Kaliningrad region.