MOSCOW (MRC) -- Russian gas giant Gazprom said on Thursday its board was recommending a dividend of 52.53 roubles per share on its 2021 results, up from 12.55 roubles for the previous year, said Reuters.
It said the total payout will amount to 1.244 trillion roubles (USD20.10 billion), or 50% of adjusted group net income, adding that this was a record high in Russian stock market history.
The 50% ratio was the same as before, but the payout was higher because of record earnings last year on the back of high oil and gas prices.
After a volatile session in expectation of the dividend announcement, Gazprom’s shares were up 9.4% on the news.
Gazprom said an annual general meeting of shareholders is due to approve the dividend on June 30. It set July 20 as the deadline for the list of eligible shareholders.
A number of Russian companies, including the country’s largest lender Sberbank, have decided or were instructed by the government not pay dividends, amid sweeping Western sanctions imposed after Moscow sent its troops into Ukraine on Feb. 24.
As per MRC, the Spanish oil and gas company Repsol sold shares in the Russian projects Evrotek-Yugra and ASB Geo to Gazprom Neft and its subsidiary Gazpromneft Service. The sole shareholder of Evrotek-Yugra JSC was Gazprom Neft's subsidiary Gazpromneft-Service LLC, the shareholders of ASB Geo LLC were Gazprom Neft and Gazpromneft Service itself on a parity basis. The change occurred on January 21 and February 17, respectively.
We remind, Gazprom has not booked additional gas transit capacity for exports to Europe via Velke Kapusany on the Slovakia-Ukraine border for June, auction results showed, although it already has some capacity booked under an existing deal. In total, 70.4 MMcm3 per day of capacity was on offer at the auction. Under its existing supply contract, Gazprom automatically has gas transit capacity booked, which means gas will continue to flow in June. However, the company can book additional capacity if it needs it, an industry source said.
PJSC Gazprom is a Russian energy company engaged in exploration, production, transportation, storage, processing and sale of gas, gas condensate and oil, as well as production and sale of heat and electricity. The largest company in Russia, the largest gas company in the world, owns the longest gas transmission system (over 160,000 km). It is the world leader in the industry.