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“The shareholders have decided that in the current situation there is no point in paying dividends on the 2021 result,” GAZPROM vice president Famil Sadygow said Thursday via the state-owned company’s Telegram channel. For GAZPROM, the implementation of the investment program with the connection of the Russian regions to the gas network and the increase in the government’s tax demands are a priority.
GAZPROM’s board of directors had previously announced a record dividend of 52.53 rubles per share (currently equivalent to around one euro) in consideration of the high profit of the previous year. However, this proposal for the distribution of profits was rejected by the owners at the general meeting. The number of dissenting votes roughly corresponds to the number of shares the Russian state holds in the group. The bonuses for the Management Board, on the other hand, were approved with approximately the same number of votes.
Small shareholders reacted to the unexpected cancellation of dividends with substantial sales. The stock temporarily lost 30.09 percent to 208.10 rubles. The dividend was one of the most important factors in the stock’s attractiveness, she said. “The waiver of dividend payments for 2021 not only deprives investors of the ability to request payments for 2021, but also creates risks for future dividend payments,” which is a very negative factor, the bank commented. Russian business BKS.
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The leverage must be between 2 and 20
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