Gazprom says board recommends record dividend

(Reuters) - Russian gas giant Gazprom said on Thursday its board was recommending a dividend of 52.53 roubles per share on its 2021 results, up from 12.55 roubles for the previous year.

It said the total payout will amount to 1.244 trillion roubles ($20.10 B), or 50% of adjusted group net income, adding that this was a record high in Russian stock market history.

The 50% ratio was the same as before, but the payout was higher because of record earnings last year on the back of high oil and gas prices.

After a volatile session in expectation of the dividend announcement, Gazprom's shares were up 9.4% on the news.

Gazprom said an annual general meeting of shareholders is due to approve the dividend on June 30. It set July 20 as the deadline for the list of eligible shareholders.

A number of Russian companies, including the country's largest lender Sberbank, have decided or were instructed by the government not pay dividends, amid sweeping Western sanctions imposed after Moscow sent its troops into Ukraine on Feb. 24.

 (Reporting by Reuters)

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