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.