The Russian government included in the state budget a forecast of record dividends from Sberbank
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The Russian government expects Sberbank to transfer record payments as dividends to the federal budget, according to the explanatory note to the draft budget. According to the forecast of the Ministry of Finance of the Russian Federation, the state-owned shares of the financial organization should bring the treasury about 750 billion rubles.
Taking into account the standard level of dividend payments for state-owned companies (50% of net profit according to IFRS), the Ministry of Finance’s forecast for Sber’s dividend payments may correspond to the bank’s net profit for 2023 at the level of 1.5 trillion rubles, notes RBC.
A Sberbank representative told RBC that the forecast for return on equity (ROE) for this year is 22% or higher. Previously, Sberbank has repeatedly stated that it does not target the level of net profit.
The Ministry of Finance of the Russian Federation has generally lowered its estimate of dividend receipts from Russian companies to the state budget for the next three years, and the forecast for 2023 will be exceeded. According to the documents, the main sources of dividends to the treasury, in addition to Sberbank, are also will become Gazprom, Transneft, as well as the non-public state holding Rosneftegaz.
In the budget for 2023, the Ministry of Finance included the receipt of dividends in the amount of 544.1 billion rubles, for 2024 – 845.2 billion, for 2025 – 823.6 billion rubles. Expectations for 2024 decreased by 23%, to 650.4 billion rubles, dividend receipts in 2025 are estimated by the department at 585.1 billion rubles. (previous forecast – 823.6 billion rubles).
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