Gazprom Board of Directors recommends not paying dividends for 2022
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According to the results of 2022, Gazprom received 1.226 trillion rubles. net profit for IFRS, against 2.093 trillion rubles. in 2021, follows from the report (.pdf). The Board of Directors recommended not to pay dividends for the year. The company’s shares on the Moscow Exchange at 15:41 Moscow time fell by 3.9%, to 165.68 rubles.
“The Board of Directors recommended that the meeting of shareholders not declare or pay dividends based on the performance of PJSC Gazprom in 2022, taking into account the payment of interim dividends based on the results of the Company’s operations in the first half of 2022,” the statement reads. transcript as a result of the meeting of the Board of Directors of the company.
The amount of profit was affected by increased tax payments that occurred in the second half of the reporting year, follows from messages Famila Sadygov, Deputy Chairman of the Management Board of Gazprom. According to him, taking into account the adjustment, the size of the dividend base for 2022 exceeded net profit by 78% and reached 2.2 trillion rubles.
RUB 1.2 trillion were allocated for interim dividends based on the results of the first half of 2022. The transcript says that this is a record amount of dividends in the history of Gazprom. “This is higher than the target level envisaged by the dividend policy – at least 50% of the adjusted net profit under IFRS. Thus, ”Gazprom” provided its shareholders with super profits by allocating 115 billion rubles in dividends. more than the level stipulated by our dividend policy,” Famil Sadygov explained.
In 2022, the Board of Directors of Gazprom recommended that the General Meeting of Shareholders pay dividends in the amount of 52.53 rubles. per share at the end of 2021 (total – 1.24 trillion rubles). However, the company’s shareholders voted against, including in connection with the increase in taxes. Later, the board of directors recommended paying interim dividends for the first half of the year in the amount of 51.03 rubles. per share.
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