Shares of Gazprom fell amid the decision not to pay dividends for 2022
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On May 23, the Board of Directors of Gazprom decided not to pay final dividends for 2022. Famil Sadygov, Deputy Chairman of the Board of the Company, who was quoted by the press service of Gazprom, explained that interim dividends for the first half of the year amounted to 1.21 trillion rubles, or 55% of IFRS adjusted net income for the full year 2022 (payouts amounted to RUB 51.03 per share). He emphasized that the gas holding “provided super-profits to its shareholders” by allocating 115 billion rubles in dividends. more than the level stipulated by the dividend policy. Therefore, the board of directors, according to him, decided to “keep the total payments for 2022 at the level of interim dividends for the first half of the year.”
The market took the news negatively. During trading on the Moscow Exchange, Gazprom shares fell by 4% compared to the previous trading session to 165.4 rubles. As a result of the trading day, the papers lost 2.9%: at the close of the stock exchange, one share of the gas holding cost 167.5 rubles. – this is the minimum since March 20, 2023. The company’s capitalization decreased to 3.97 trillion rubles.
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