PRESS: Russia’s Gazprom may pay 50% IFRS profit in 2015 divs
MOSCOW, May 12 (PRIME) -- Russia’s Economic Development Ministry has prepared a draft directive under which gas giant Gazprom has to pay 50% of its net profit under International Financial Reporting Standards (IFRS) in dividends for 2015, Kommersant business daily reported Thursday citing sources familiar with the situation.
The ministry has sent the draft to other government bodies for approval several days ago, the sources said.
If the directive is approved, Gazprom may pay record high dividends of 393 billion rubles for 2015. Gazprom declined to comment.
According to the ruling recently signed by Prime Minister Dmitry Medvedev, a state company must take the highest figure of its net profit – under Russian Accounting Standards (RAS) or under IFRS – and allocate no less than 50% of the net profit for dividends.
State-owned Rosneftegaz recently received a right to pay 50% of its adjusted net profit in dividends, while oil major Rosneft has agreed to pay around 35% of its IFRS net profit.
Bloomberg reported earlier citing sources that Gazprom had also asked the government to exempt it from paying half of its IFRS net profit in dividends for 2015, because the company needed money to buy back shares from VEB in order to support the troubled institution.
(66.2428 rubles – U.S. $1)
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