BAKU, Azerbaijan, December 29. The Rules on the distribution of net profits of legal
entities and public legal entities owned by the state and whose
controlling stake (shares) is owned by the state and the general
parameters of the dividend policy have been approved in Azerbaijan,
Trend
reports.
President of the Republic of Azerbaijan Ilham Aliyev signed the
relevant decree.
According to the decree, the rules regulate the distribution of
net profits and general principles of dividend policy of legal
entities owned by the state and whose controlling stake (shares)
belongs to the state and public legal entities established on
behalf of the state (hereinafter referred to as state enterprises),
as well as legal and organizational issues related to the
distribution of net profits, including control mechanisms for
dividend payments to the state budget.
The regulations are inapplicable to state-owned enterprises
whose equities are traded on prominent stock markets beyond
national borders.
