Minister says Gazprom dividends for 2015 to stand at 175 bln rbl

MOSCOW, May 17 (PRIME) -- Russia’s Economic Development Ministry has prepared a directive to order gas giant Gazprom to pay about 175 billion rubles in dividends for 2015, Minister Alexei Ulyukayev told reporters on Tuesday.

“I do not recall…how many rubles per share, a total of 175 billion rubles… This is the amount of dividends which Gazprom will have to pay to all its shareholders in accordance with the directive,” Ulyukayev said.

Business daily Vedomosti reported earlier in the day, citing two government officials, that Gazprom will pay 175.2 billion rubles and the payment per share will amount to 7.4 rubles.

The dividends will account for 21.8% of the company’s net profit under International Financial Reporting Standards (IFRS) for 2015, which is lower than the minimum set earlier for state companies by an order of Prime Minister Dmitry Medvedev, stipulating a 50% of net profit dividend payment.

“The investment program of the company is very comprehensive, and secondly, as far as you remember, last year we made tax decisions (increase of mineral extraction tax on gas) and we said then that the price (of this decision), which was more than 100 billion rubles for Gazprom, is the reason to provide the company with some comfort through other mechanisms, including dividends,” Ulyukayev said.

(64.8895 rubles – U.S. $1)

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