Monthly dividend payment
Does an LLC have the right to distribute dividends to members on a monthly basis?
According to Art. 28 of the Federal Law of the Russian Federation of 02/08/1998 No. 14-FZ “On Limited Liability Companies”
The company has the right
to make
quarterly, once every six months or once a year on the distribution of its net profit
among the participants of the company.
The decision to determine the part of the company’s profit distributed among the company’s participants is made by the general meeting of the company’s participants
.
Net profit is subject to distribution among the LLC participants
, determined
according to accounting data
.
In letters dated September 20, 2010 No. 03-11-06/2/147, dated September 26, 2009 No. 03-11-06/2/198, the Ministry of Finance of the Russian Federation indicated that the determination of net profit is carried out in accordance with the Chart of Accounts accounting
financial and economic activities of organizations and the Instructions for the application of the Chart of Accounts for accounting of financial and economic activities of organizations, approved by order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n.
In accordance with Art. 43 of the Tax Code of the Russian Federation, any income received by a shareholder is recognized as a dividend
(
participant
) from the organization when distributing the profit remaining after taxation (including in the form of interest on preferred shares) on shares (shares) belonging to the shareholder (participant) in proportion to the shares of the shareholders (participants) in the authorized (share) capital of this organization.
Dividends also include any income received from sources outside the Russian Federation that are classified as dividends in accordance with the laws of foreign countries.
Not recognized as dividends
:
1)
payments upon liquidation of an organization to a shareholder (participant) of this organization in cash or in kind, not exceeding the contribution of this shareholder (participant) to the authorized (share) capital of the organization;
2)
payments to shareholders (participants) of an organization in the form of transfer of shares of the same organization into ownership;
3)
payments to a non-profit organization for the implementation of its main statutory activities (not related to business activities), made by business companies whose authorized capital consists entirely of contributions from this non-profit organization.
Part of the profit
of the company, intended for distribution among its participants,
is distributed in proportion to their shares in the authorized capital of the company
.
The charter of the company upon its establishment or by introducing amendments to the charter of the company by decision of the general meeting of the company's participants, adopted unanimously by all the company's participants, may establish a different procedure for the distribution of profit
between members of society.
Amendments and exclusions of the provisions of the company's charter establishing such a procedure are carried out by decision of the general meeting of company participants, adopted unanimously by all company participants (clause 2 of article 28 of Law No. 14-FZ).
Clause 3 art. 28 of the LLC Law establishes that the period and procedure for payment
parts of the company's distributed profit
are determined by the company's charter or a decision of the general meeting of
company participants on the distribution of profit between them.
Payment term
part of the distributed profit of the company
should not exceed 60 days from the date of the decision
on the distribution of profit between the participants of the company.
If the payment deadline
part of the distributed profit of the company is not determined by the charter or the decision of the general meeting of the company's participants on the distribution of profit between them
, the specified period is considered equal to 60 days from the date of the decision on
the distribution of profit between the company's participants (clause 3 of Article 28 of Law No. 14-FZ).
Supreme Arbitration Court of the Russian Federation
in the Determination of December 18, 2009 No. VAS-13819/09 based on the provisions
of Art.
43 of the Tax Code of the Russian Federation concluded that
the amount of dividends was determined
in proportion to the shares of participants in the authorized capital of the company, that
the payment of dividends does not affect the amount and timing of payment of income tax
or tax paid in connection with the application of the simplified tax system, that
the monthly payment
of dividends does not indicate that the dividends paid were of a different nature and were not paid as dividends.
However, according to other court decisions
the funds paid
do not relate to dividends, but are funds of a different
(
salary
)
nature
(Decision
of the Supreme Court of the Russian Federation
dated July 12, 2016 No. 306-KG16-8176, resolution
of the Plenum of the Supreme Court of the Russian Federation
and
the Plenum of the Supreme Arbitration Court of the Russian Federation
dated December 9, 1999 No. 90/4).
Let us note that mainly court decisions were related to the application of the personal income tax rate.
After all, before January 1, 2015,
the personal income tax rate
for dividends
was 9%
, that is, lower than for income in the form of wages.
From January 1, 2015
personal income tax rate for dividends –
13%
.
According to paragraphs 1 clause 1 art. 420 of the Tax Code of the Russian Federation subject to insurance premiums
payments and other remuneration in favor of individuals subject to compulsory social insurance in accordance with federal laws on specific types of compulsory social insurance (
with the exception
of remunerations paid to persons specified in
paragraph 2 of paragraph 1 of Article 419 of the Tax Code of the Russian Federation
)
in within the framework of labor relations
and under civil contracts, the subject of which is the performance of work and the provision of services.
Therefore, dividend amounts are not subject to insurance premiums.
.
Consequently, monthly distribution of profits may attract the attention of tax authorities in terms of additional assessment of insurance premiums on the amount of monthly dividends, which can be qualified as salary
.
Gazprom dividends in 2021
Analysts, after reviewing Gazprom’s financial statements, came to the conclusion that the organization has great potential for maximizing payments to shareholders. The Ministry of Finance, in turn, is already insisting that at least 50% of the profits of the IFRS be paid. It is the presented data on dividends on Gazprom shares in 2021 that are included in the state budget.
The amount of dividend payments should be 214.99 billion rubles, which is equal to 23.67 rubles for each dividend. Whether the monopolist himself will agree to this is not yet known. But so far, some analytical agencies even suggest that dividends on shares could reach 27.35 rubles per share.
Cut-off date and quotes
Knowing this date is extremely important for those who make transactions in securities. The fact is that dividends will be received by the owners of shares who are in the register on this specified date. And those who will be entered into the register later will no longer receive dividends for the period. At the same time, we must remember that shares bought or sold on the stock exchange do not change ownership immediately, but after T+2, that is, after a day of trading plus two business days.
It turns out that before the cutoff moment the stock is traded with a dividend, and immediately after - without it. That is, its quote instantly decreases by the size of this upcoming payment. This is called the dividend gap, or the gap in the stock price immediately after the close of the book.
Closing the Dividend Gap
Immediately after the register is closed, quotes, as was said, fall by the amount of dividends. Then, it is believed that the dividend gap will be closed within a certain period of time. Most likely, when the market will expect the next dividends, and estimate their size based on the information that will be known about the company.
In fact, we are talking about the next dividends for the upcoming new period. Quotes will rise if the company continues to make profits.
Where do dividends come from?
Dividends are paid by the company exclusively from profits received. Unlike interest on a deposit, businesses are not required to pay it. If the year ends with a loss, then there can be no talk of any dividends at all, no matter what shares we have in our portfolio, ordinary or preferred.
Some of the income is used for dividends, but not all. Because a successful business requires further development and new investments.
The company's documents - the charter, prospectus - may indicate the enterprise's obligation to allocate a certain share of profits to payments on preferred shares. In this case, if there is a profit, then the management of the enterprise is obliged to pay, and this share can be demanded in court. But this is only important if there is profit. The law prohibits directing funds from the reserve fund for dividends on preferred shares, as well as on ordinary shares.
There are situations when dividends are spent on profits not received from the main business of the enterprise. For example, from the revaluation of currency values. But this is rather an exception.
Brokerage account
Open
When to buy shares to get dividends
Once a dividend decision has been made, it is usually published publicly. From now on, according to the law, dividends can be demanded even in court.
And it is immediately reflected in stock prices. Most likely, at this moment it is too late to buy securities for speculative reasons: there will be too many of those willing, and the rate will come into line with the fait accompli of the upcoming payment.
By law, declared dividends must be paid no later than a certain date. From the date of announcement of dividends until the final list of shareholders to whom they will be paid is determined, according to the law, at least 10, but not more than 20 days must pass. Usually, the closing date of the shareholder register is determined immediately.
How to get income?
Where can I get dividends on Gazprom shares? They will be credited automatically to the shareholder's brokerage account. Moreover, the funds will be credited to the account immediately minus income tax. You have the right to withdraw money from your brokerage account to a card or account at any time.
If you have entered into an agreement with the Sberbank broker, then information about the accrual of dividends will be displayed in your Sberbank.Online personal account on the “Other” tab> “Brokerage services”>”Credits/Write-offs”. You can check payments at other brokerage companies in a similar way.
Resolution of the shareholders meeting
Typically the meeting is held from June 27 to 30. Information about when it will be held is posted in advance on the company’s website.
How to calculate the amount needed to live on passive income from dividends?
To calculate the volume of investment (I), you need to divide the amount of your annual consumption (GP) by the dividend yield (DD, in % per annum) and multiply by 100%.
I = GP/DD*100%,
For example, if 30,000 rubles are spent per month to cover your current expenses, then the annual consumption volume will be 360,000 rubles.
Let's calculate the amount of investment: I = 360,000/7.2% * 100% = 5,000,000 rubles.
It is these investments that guarantee you financial freedom and the opportunity to live on dividends.
Dividends of Gazprom shares for today
Currently, the dividend per share is 16.61 rubles. Compared to last year, the increase was more than 100 percent.
We calculate the dividend yield of shares
Calculating how much dividends will be is very simple - just know the amount of profit per share. Accordingly, we multiply the number of shares by dividends per security. For example, you have two pools (20 shares). We multiply this number by dividends per share (16.61 rubles). It turns out that from this number of shares you will receive 332 rubles 20 kopecks in dividends.
However, do not forget that income tax will also be deducted from this amount, which is 13% for citizens of the Russian Federation and 15% for non-residents.
This is interesting: What is a dividend gap and how to make money on it?
How many dividends does one Gazprom share bring?
For the first time in a long time, Gazprom was recommended to increase the size of dividends on shares. The company confirmed that the size of the shares will indeed be increased. And if in the previous year the size of dividends per share was 8.04 rubles, then in 2021 it will be 16.61 rubles.
