New Year gifts — Interim dividends in December
smartmoney.one(NLMK, Severstal, MMK, TMK, Phosagro and Norilsk Nickel), to which were added retail stocks (X5, Magnit and Detsky Mir).The average yield stand at 4%.
We may also expect positive surprises from Rushydro (8%) and Sovkomflot (7%) in 2020.Based on our dividend payments’ expectations, our year-end forecast for the USDRUB is ₽73/$ and forecast for Brent if $50/bbl.The risk premium for the rouble at current oil prices is 10-11%, which is also reflected in the Russian stocks.