On 28 December 2010, the President signed Federal Law No. 409-FZ amending the Law on Joint Stock Companies, the Law on Limited Liability Companies and the Tax Code with respect to payment of dividends. The Law entered into force on 31 December 2010.

The amendments extend the JSC Law and LLC Law rules on payment of dividends to shareholders in joint stock companies and distribution of profits among participants in limited liability companies, respectively.

Thus, the term for payments of dividends (distributed profit) is to be specified either in the company charter or in the resolution of the general meeting of shareholders (participants) on the payment of dividends (distribution of profits) and may not exceed 60 days from the date of the resolution. If not so specified, this term is deemed to equal 60 days from the date of the resolution on the payment of dividends (distribution of profits).

If the dividends (profits) are not paid within the required term, a shareholder (participant) may request payment from the company within three years thereafter (or within a longer term that may be specified in the company charter, but which may not exceed five years). Upon expiry of this term the unclaimed dividends (profits) shall be reinstated as part of the company's undistributed profits. The unclaimed dividends (profits) reinstated as part of the company's undistributed profits are not subject to profit tax.