Exporters share wealth as the rouble remains weak

Russian companies are paying out almost twice as much in dividends as emerging-market peers relative to their stock prices as a rout in the rouble helped boost exporters' cash piles.

The average 12-month gross dividend yield of stocks on the MSCI Russia Index is 4.6 percent, compared with 2.5 percent for equities in the developing-nation benchmark. The spread between the two is near the highest since at least 1995, data compiled by Bloomberg show.

Companies that sell abroad and have costs in roubles have benefited from the local currency's 31 percent depreciation against the dollar in the past 12 months, allowing them to share the extra cash with investors. Speculation that exporters will increase payouts also has boosted some of their stocks, helping the MSCI Russia gauge rebound 38 percent this year after plunging 49 percent in 2014.