Gazprom to start paying dividends under new policy in 2020

MOSCOW, Jun 21 (PRIME) -- Russian gas giant Gazprom plans to elaborate a new dividend policy in 2019 and start paying dividends under it in 2020, the company said in a presentation on Friday.

According to the presentation, by virtue of the new policy, the dividends shall not depend on the absolute figure of last year’s dividends. The level of 50% of the net profit under International Financial Reporting Standards (IFRS) payment in dividends shall be reached in three years, with adjustment to non-cash items.

Gazprom paid eight rubles per share in dividends for 2017, which accounts for 26.6% of the company’s net profit under IFRS.

(63.3877 rubles – U.S. $1)

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