Gazprom shares fall 30% after dividend decision

Shares of the Russian gas monopoly Gazprom fell by more than 30%. The reason was the decision of the meeting of shareholders not to pay dividends, which will go to taxes.

According to the exchange, the shares fell to 207 rubles apiece.

Prior to this, the general meeting of shareholders decided not to pay dividends for 2021. Famil Sadigov, Deputy Chairman of the Board of Gazprom, said that the company “should be ready to fulfill its obligations to pay increased taxes.”

Previously, it was proposed to pay 52.53 rubles per share for 2021 (or about $1 at the official rate). In total, it was planned to pay 1.244 trillion rubles in dividends.

The authorized capital of PJSC Gazprom consists of 23.674 billion ordinary shares. The Kremlin controls more than 50% of the company’s shares.

Recall that in June Gazprom almost halved gas supplies to Europe. Serhiy Makogon, general director of GTS Operator of Ukraine, said that by its actions the Russian company is destabilizing the gas market and is trying to disrupt preparations for the heating season in the EU.

Read urgent and important messages about the war of Russia against Ukraine on the RBC-Ukraine channel at Telegram.

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