SPECIFICS OF THE IMPLEMENTATION OF THE DIVIDEND STRATEGY BY RETAIL INVESTORS IN THE RUSSIAN STOCK MARKET

As the level of financial literacy increases, in parallel with the development of the financial market itself and the formation of a trend towards sustainable economic development in the country, the investment opportunities provided by the stock market will become more in demand among Russian retail investors. Statistical data from the past few years has already shown an increase in household interest in financial instruments of the stock market. The number of accounts opened for brokerage services has an annual tendency to increase. Any investment of available funds, whether it is a bank deposit, the purchase of real estate or the purchase of precious metals, has its own characteristics and is characterized by different levels of complexity of the process, risk, taxation, urgency, etc. In this regard, the process of investing in financial instruments of the stock market in general and in stocks in particular is no different from other areas of investment and requires the owner of capital to take into account many aspects. One of the common strategies implemented by investors in the country’s stock market is the dividend investment strategy. Its undoubted advantages include the possibility of obtaining a relatively predictable income, the ease of the organization process and the absence of the need to obtain any specific knowledge, as, for example, in the case of derivative financial instruments. At the same time, the practical implementation of this strategy in order to achieve the planned result will require certain efforts from the retail investor, in terms of studying the current Russian legislation governing the process of accrual and payment of dividends by joint-stock companies, analyzing the financial performance of the issuer and understanding the general economic trends in the country. The article presents Russian practice and legislative requirements for issuers of shares in relation to the general process of organizing dividend payments. The specifics of this process are determined by many factors, such as the type of shares, whether or not the issuer has the opportunity or the right to pay dividends due to various circumstances, the form of payment of dividends, the timing of their accrual, payments, etc. This systematization allows us to take into account in practice all the features of the dividend strategy, which will help the retail investor achieve the expected results.