Changes to the Russia's regulatory framework for payment of dividends to take effect

Amendments to the Russia's law concerning payment of dividends will come into effect on 1 January, 2014. By the new law, issuers must announce and set the dividend record date no earlier than 10 and no later than 20 days after the AGM at which the payment of dividends was approved.

Text of the law
According to the Federal Law of 29.12.2012 N 282-FZ from January 1st, 2014, paragraph 5 of Article 42 will be following:
The date of determination of the person who has the right to dividends in accordance with the decision on payment (declaration) of dividends can't be earlier than the date of the decision and within 20 days from the date of its acceptance. In case of dividend payment on shares traded at exchanges - earlier than 10 days from the date of the decision on payment (declaration) of dividends, and within 20 days from the date of the decision.

For further information, please contact the Public Relations Department at (495) 363-3232.