Changes to the Regulatory Framework for Dividend Payments in Russia

September 25, 2013

Beginning January 1, 2014, the regulatory framework for the payment of dividends in Russia will change considerably, which should result in more efficient and transparent distributions of dividends from Russian companies.

Federal Law No. 282-FZ “On Amending the Laws of the Russian Federation” (the “Law on Amendments”), which was signed by the President of the Russian Federation on December 29, 2012, will introduce a series of amendments (effective January 1, 2014) to key legislation, including, inter alia, provisions of the Federal Law “On Joint Stock Companies” and the Federal Law “On Securities Market” relating to payment of dividends by joint stock companies. These amendments will introduce significant changes to the rules on payment of dividends and should improve the regulatory scheme governing the Russian securities market.

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