Analysts of the investment bank Sinara, in the base case scenario, expect that in 2027 Russian companies will increase dividend payouts by 40% compared with 2026, to ₽4.7 trillion. This will result in an average dividend yield of around 13%. This is stated in the bank’s analytical report “Russian stock market. Strategy for the fourth quarter of 2026 and 2027.”
According to experts, the largest increase in the volume of payments compared to this year will mostly be provided by companies such as:
«Gazprom». According to analysts, based on the results of 2026, a positive free cash flow figure will make it possible to resume dividend payments;
LUKOIL. The results for the first half of 2026 show that the company is able to generate a large free cash flow figure without foreign assets;
«Rosneft». The company has significant potential to increase production thanks to the «Vostok Oil» project;
Sberbank. The company aims to grow net profit, including through major investments in IT and artificial intelligence (AI);
«Norilsk Nickel». As analysts note, the summer weakening of the ruble was a big help for the company’s financial results. In addition, speculative growth in copper quotes continued, and prices for other base metals and platinum group metals, although they declined, remained at an acceptable level.
Top-15 dividend stocks according to «Sinara»
The analysts of Sinara Bank identified shares of 15 companies with the highest dividend yield. According to their calculations, the average dividend yield for the next 12 months for these stocks will be 18.2%.
Top-15 shares of companies with the highest dividend yield until December 31, 2027 (dividend yield is given relative to the closing prices of September 24):
«Fix Price» — «buy», target share price — ₽0.54, dividend yield — 28%;
X5 — «buy», target price — ₽2700, yield — 28%;
«Gazprom» — «buy», target price — 140₽, yield — 27%;
VTB — «buy», target price — ₽93, yield — 19.8%;
preferred shares of «Transneft» — «buy», target price — ₽1300, yield — 19%;
preferred shares of «Surgutneftegas» — «hold», target price — ₽36, yield — 17%;
«Group LSR» — «buy», target price — ₽660, yield — 15%;
«Doh. RF» — «buy», target price — ₽2930, yield — 15.6%;
Sberbank — «buy», target price — ₽400, yield — 15.5%;
LUKOIL — «buy», target price — ₽6150, yield — 21%;
«Rosseti Moscow Region» — «buy», target price — ₽2.07, yield — 15.2%;
NMTP — «buy», target price — ₽8.6, yield — 15%;
«Rosseti Center» — «buy», target price — ₽1.15, yield — 14.9%;
«Gazprom Neft» — «hold», target price — ₽585, yield — 21%;
Moscow Exchange — «buy», target price — ₽215, yield — 13.7%.
Experts noted that dividends will continue to grow as profits increase in nominal terms; this should be supported by higher prices for raw materials, inflation, a weaker ruble, and lower interest expenses.
#WorldNews2026 , #MarketTurbulence
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