Among the public companies in Russia last year, the leaders in terms of the volume of dividends were the oil and gas sector and metallurgists, who were recently accused of “screwing up” the state. This is reported by RBC with reference to a study by ITI Capital.
At the same time, the share of the oil and gas sector in the total amount of remuneration to shareholders decreased from 51 to 33 percent, while the share of the metallurgical sector, on the contrary, increased to 33 percent. In third place were financial companies (over the year their share increased from 13 to 18 percent).
Analysts at ITI Capital calculated that 2.6 trillion rubles were paid to shareholders of the top 50 companies on the Moscow Exchange in 2020.
At the end of May, President Andrei Belousov said that metallurgical companies “piled on” the state for about 100 billion rubles in unpaid taxes on profits gained from the favorable market conditions during the coronavirus pandemic.
The Kremlin replied to this that in the situation with super-profits of Russian metallurgists, there is no point in looking for the guilty, because this is “economic life.” Later, explaining his statement, Belousov said that the government has no goal to take away additional revenues from metallurgists, but simply needs to meet the parameters of projects that have risen in price due to prices for metal products.