29 Apr 2019 18:04

Gazprom board's dividend meeting set for May 21

MOSCOW. April 29 (Interfax) - The Gazprom board of directors will meet to discuss its 2018 dividend recommendation on May 21, CFO Alexander Ivannikov said.

The government will issue a directive on the matter roughly a week in advance of the meeting.

"Any changes are possible until the directive is issued," Ivannikov said.

The management board has recommended a dividend of 10.43 rubles per share for 2018.

He also said the company could update its dividend policy. "There's a likelihood we'll review our current dividend policy next year," Ivannikov said.

The company might increase dividend payments going forward, when the investment burden has eased. Ivannikov said he could not guarantee that payments will be exactly 50% of net profit to International Financial Reporting Standards (IFRS), but they might not be far off.