Investors in Russian stocks have almost given up on seeing any of the cash the country’s leading companies generate. The valuation of what should be some of the world’s richest companies is in the basement, as would-be minority investors don't believe the management will share the billions of dollars in revenue these companies make every year. Russia’s stock market boomed in the noughties, adding about 50 percent to stock valuations every year, but since about 2014 the leading RTS index has got stuck at between 900 and 1,300 depending on the sanctions newsflow or the price of oil. That’s why when the state-owned gas behemoth Gazprom hiked its dividend payments twice in a week in the middle of May to 16 rubles per share it came as a shock to the market. Gazprom’s shares, which have been trading sideways for years, soared by 30 percent in a matter of days. The management had doubled the dividend payout from the 8 rubles per share it has been paying come rain … [Read more...] about Why Are Russian Stocks So Cheap?