Gazprom shares rose by 3.4% on news about dividend policy – Kommersant
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The change in debt metrics will not affect the dividend recommendations of Gazprom management, said Deputy Chairman of the Board Famil Sadigov “Interfax” on the sidelines of the VTB forum “Russia Calling!” On this news, the company’s shares rose by almost 3.39% by 17:13 on the Moscow Exchange.
Gazprom’s dividend policy assumes that if the debt burden exceeds the level of 2.5 according to the Net Debt/EBITDA ratio, the board of directors may propose dividends below target levels. At the end of the first half of 2023, the coefficient increased from 1.1 to 1.9.
Mr. Sadigov recalled that the board of directors will meet on December 19, after which comments will be published. “We will definitely comment on everything normally. I can say in advance that it will not affect,” said the deputy chairman of the board of Gazprom.
Famil Sadigov noted that the company will follow the dividend policy. The final decision will rest with the shareholders. “In this case, this shareholder is the state. Therefore, no matter what the metrics, the shareholders must make a decision, what decisions – I cannot say in advance,” he added.
On the dividend policy of oil and gas companies – in the material of Kommersant “Interim payments”.
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