Russian ministry denies sending directive on Gazprom dividends

MOSCOW, May 12 (PRIME) -- Russia’s Economic Development Ministry denied on Thursday sending a draft directive on gas giant Gazprom’s dividends for 2015 for approval to other government bodies.

Kommersant business daily reported earlier that the ministry had prepared a draft directive under which Gazprom has to pay 50% of its net profit under International Financial Reporting Standards (IFRS) in dividends for 2015.

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.

If the directive is approved, Gazprom may pay record high dividends of 393 billion rubles for 2015, Kommersant said.

(66.2428 rubles – U.S. $1)

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