Authors:

Yulia V. SEMERNINA Dr. Sc. (Econ.), Professor of Finance Dept

Alina S. KOZLOVA Postgraduate of Finance Dept

Abstract:

The authors believe that the specific features of dividend policy which is implemented by Russian companies today are not sufficiently discussed in modern scientific literature. The topicality of the study is highlighted by, first, the opportunity to justify the applicability of certain investment strategies in Russia’s stock market and, second, the ability to adequately assess investment opportunities emerging in the market. The authors concluded that at the current development stage the specific features of Russian companies’ dividend policy are the following: a conservative type of dividend policy; payment of floating dividends; paying dividends in cash; predominant payment of annual dividends; application of international financial reporting standards; a high degree of adaptability; a normalized base of dividend payments; the dividend policy is formulated by shareholders (majority shareholders, in particular).

Keywords:

RUSSIAN COMPANIES’ SHARES, DIVIDENDS, DIVIDEND PAYMENT, STOCK MARKET

Yulia V. Semernina, Alina S. Kozlova. Special Features of Russian Companies’ Dividend Policy. Upravlenets – The Manager, 2016, no. 6(64), pp. 68–74.