Putin's Gazprom comments raise questions about dividend
May 15, 2017 11:30 AM ET|By: Carl Surran, SA News Editor
Gazprom’s (OTCPK:OGZPY) profit is mostly “on paper,” Russian president Putin says, raising questions about the company’s ability to pay dividends.
In comments at the Belt and Road summit in Beijing, Putin implied Gazprom likely would be exempt from a government decree mandating that all state-owned firms pay 50% dividends, saying that "when the government makes a decision about this issue, it’s going to take the real situation into account, and not the company’s paper income."
Gazprom’s 2016 net profit rose 21% to 951.6B rubles but nearly half came from the exchange rate as the ruble weakened.
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