Стратегия должна быть краткой и изложена понятным языком. В документ необходимо включать информацию об основных видах деятельности компании, продуктах и услугах, ключевые показатели финансовой отчетности и операционной деятельности, сведения о рыночной капитализации, об объявленных и выплаченных дивидендах за последние 3–5 лет, а также о размещенных и находящихся в обращении ценных бумагах. В качестве ключевого целевого индикатора стратегии может использоваться «совокупная доходность для акционеров» (total shareholder return). Показатель объединяет дивидендную доходность и доходность, полученную инвесторами от положительной переоценки акций.
На основе оценки текущей акционерной стоимости компаниям следует определить цели своего развития на срок от 3–5 до 10 лет и планы по их достижению. Цели должны быть амбициозными, но реалистичными. В случае отклонения от целевых ориентиров компаниям рекомендуется пояснять причины этого, а также описывать действия, которые они планируют предпринять для возвращения к заданной траектории.
Кроме того, в рекомендациях уделяется особое внимание вопросам коммуникации эмитента с инвесторами, прежде всего розничными, которые доминируют на вторичном рынке акций. Это повысит их доверие к стратегии и планам компании.
Усилия публичных обществ по повышению своей акционерной стоимости будут способствовать росту капитализации российского фондового рынка.
Фото на превью: Metamorworks / Shutterstock / Fotodom
Brief
On 22/01/2025, the Central Bank of Russia issued an update regarding "How Companies Can Increase Their Shareholder Value: Regulator's Recommendations". The document emphasizes the importance of a concise and understandable strategy, highlighting key performance indicators, market capitalization, dividend payments, and share placement. It also recommends setting ambitious but realistic growth targets for 3-5 to 10 years and prioritizes investor communication, particularly with retail investors who dominate the secondary market. The regulator's recommendations aim to boost shareholder value and contribute to the growth of the Russian stock market's capitalization.
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Purpose
The purpose of this document is to outline a strategy for companies to enhance their shareholder value, focusing on clarity, concise language, and key performance indicators. The goal is to provide a clear direction for companies to achieve growth and increase market capitalization.
Effects on Industry
The adoption of this strategy will have a positive impact on the Russian stock market, leading to increased market capitalization as public companies strive to enhance their shareholder value. This, in turn, will create a more dynamic and attractive investment environment, potentially drawing in more investors and fostering growth within the industry. The emphasis on communication with retail investors is also likely to lead to higher trust and confidence among these stakeholders.
Relevant Stakeholders
The primary stakeholders affected by this strategy are publicly traded companies in Russia, as they will need to implement new approaches to enhance shareholder value. Retail investors, who dominate the secondary market for stocks, will also benefit from improved communication and transparency. As a result, institutional investors, such as pension funds and asset managers, may also be positively impacted through increased confidence in the Russian stock market.
Next Steps
Companies should take the following steps to comply with this strategy:
- Develop a clear and concise business strategy that outlines key areas of activity, products, and services.
- Establish key performance indicators (KPIs) for financial reporting and operational activities.
- Communicate their strategic plans and progress to retail investors in a transparent and timely manner.
- Set ambitious but realistic goals for growth over the next 3-5 years to 10 years, along with specific plans to achieve these objectives.
- Monitor progress against these goals and adjust strategies as needed.
Any Other Relevant Information
It is worth noting that the Russian government has also been promoting initiatives to increase investor confidence and support market development in recent years. This strategy is aligned with these broader efforts and could be seen as a step towards greater integration into global markets. The emphasis on enhancing shareholder value will likely lead to increased focus on corporate governance, transparency, and disclosure among Russian public companies, which may have long-term benefits for investors and the wider economy.
