EVOLUTION OF DIVIDEND POLICY RUSSIAN AND FOREIGN PUBLIC COMPANIES

The ambitious task of doubling the capitalization of the Russian stock market is inextricably linked with an increase in the number of not only public joint-stock companies, but also private investors and their investments in shares. In turn, the investment attractiveness of shares of Russian issuers directly depends on their dividend yield and, accordingly, the implemented dividend policy. The article presents the results of a comparative analysis of approaches to the distribution of profits of public companies in Russia, the USA and China, identified characteristic features in the dividend policy of Russian and foreign public companies in different historical periods. The evolution of dividend policy in the analyzed countries is traced, key factors influencing dividend strategies are characterized, including macroeconomic conditions, regulatory requirements and corporate governance. Based on the analysis, general trends in the dividend policy of public companies are determined, in particular, the growth of total dividend payments, the formation of industry differences.