Issue Of Gazprom Dividends For 2018 To Be Discussed Next Spring - Russian Finance Ministry

Fakhir Rizvi Published October 22, 2018 | 04:08 PM

The discussion regarding the amount of dividends for 2018 that the shareholders of Russia's Gazprom will receive is expected to take place next spring, Russian Deputy Finance Minister Vladimir Kolychev said Monday

MOSCOW (UrduPoint News / Sputnik - 22nd October, 2018) The discussion regarding the amount of dividends for 2018 that the shareholders of Russia's Gazprom will receive is expected to take place next spring, Russian Deputy Finance Minister Vladimir Kolychev said Monday.

"Next year. Their profits have increased by half a trillion [rubles, or $7.7 billion] ... The company has a lot of resources. But the discussion will be around the spring of next year. All decisions must be made," Kolychev told reporters, asked whether the discussion had started.

He noted that 50 percent of dividends were set to be paid to the budget under International Financial Reporting Standards (IFRS).

Gazprom shareholders approved at the annual meeting in June the dividend payout for the results of 2017 at the level of 8.04 rubles per share, which corresponds to the payments for 2016 year-end. In total, 190.3 billion rubles were set to be allocated for the payment of dividends. This amounted to 26.5 percent of Gazprom's net profit under IFRS for 2017.