Dividend payments may fall by a quarter in 2025.

Total dividend payments in 2025 may decrease by 22-24%, analysts polled by Izvestia believe. Many large companies are abandoning them amid economic difficulties and declining profits. It is especially difficult for players who are more sensitive to sanctions, the instability of the ruble and the high key interest rate.

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Total payments from the largest companies in the Moscow Exchange index will amount to 2.95 trillion rubles by the end of 2025, predicts Alexander Ugryumov, senior financial market analyst at Gazprombank Investments. This will be 850 billion rubles less than in the previous year.

"Following the results of the dividend season in the first half of 2025, the total amount of payments from Russian companies has already decreased by about 500-700 billion rubles compared to the same period in 2024," said Dmitry Vishnevsky, an analyst at Cifra Broker.

Companies began to cut their dividends due to the difficult economic situation, said Mikhail Nikonov, Director of Corporate Ratings at Expert RA. Against the background of a slowing economy, the profits of companies are declining, from which dividends are paid. Many market participants are reviewing their shareholder relations policies, giving priority to internal needs.