Russian Energy Ministry says no decision yet on extending Rosseti dividend moratorium

No decision has been made on extending Rosseti’s dividend moratorium, Deputy Energy Minister Yevgeny Grabchak said. He spoke to journalists at Russian Energy Week on October 14.

Grabchak said a decision on dividends for 2027 could be made before 2028. He noted that the Finance Ministry considers dividend receipts when balancing the budget, but the eventual choice would depend on the company’s condition.

In 2023, President Vladimir Putin instructed the government to consider support for Rosseti, including foregoing dividends for 2022–2026. Grabchak’s statement concerns a possible continuation of that policy, rather than an already approved payment to shareholders.

At its annual meeting for 2025, the company expressed hope of returning to dividends within a year or two. That expectation was not a payment decision. In May, the Energy Ministry instead advocated continuing to direct funds towards investment after 2026.

Rosseti operates transmission and distribution networks. Following the group’s 2023 restructuring, the state holds seventy-five percent plus one share.