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24 Oct, 2022 10:37

Russia’s Gazprom to pay record dividend

The decision follows the energy major’s bumper profits in the first half of 2022
Russia’s Gazprom to pay record dividend

Russian energy major Gazprom announced on Monday that it will pay record dividends to shareholders this week. 

According to the report, the issuer will pay 51.03 Russian rubles ($0.83) per ordinary share for the first half of 2022. The total volume of dividend paid out will exceed 1 trillion rubles (around $20 billion).

The Bank of Russia stated that part of the funds disbursed to Gazprom shareholders could end up in the stock market.

In late August, the gas giant said that its board had recommended a dividend payout to shareholders as the company received bumper profits “despite sanctions pressure and an unfavorable external environment.” Gazprom also indicated that it plans to stick to its dividend policy of distributing at least 50% of adjusted net profit as dividends.

In June, the state-owned company’s board of directors decided not to pay dividends based on last year's earnings, making it the first time that an annual payout had been skipped since 1998.

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