Azerbaijan Expects 872 Million Manat in State Enterprise Dividends in 2027

Azerbaijan's draft 2027 state budget projects 872 million manat in dividends from state-owned enterprises, according to Day.Az, citing Trend. The figure is 272 million manat, or 45.3%, higher than the 2026 forecast and 235.4 million manat, or 37%, above the 2025 actual figure.

The increase is linked to rules governing the distribution of state enterprises' net profit and the general parameters of dividend policy. Under rules approved by a presidential decree dated 29 December 2025, state-owned legal entities in which the state holds a controlling stake must pay dividends to the state budget. SOCAR is expected to pay 434 million manat and the International Bank of Azerbaijan 175 million manat in 2027.

Organisations paying dividends for the first time are expected to contribute a total of 263 million manat. Of this, the defence industry holding Azersilah accounts for 71.3 million manat, Azerbaijan Airlines 48.8 million, Azergold 39.6 million, Azerenerji 36.5 million and Azercell Telekom 21.3 million. The number of enterprises paying dividends to the budget is set to rise from 2 in 2026 to 52 in 2027. Budget revenues are forecast at 39.254 billion manat and expenditures at 42.4 billion manat.