28 Feb 2019 09:26

Gazprom modeling dividend ratio of 50% of IFRS profit, but advises waiting until big projects finished

MOSCOW. Feb 28 (Interfax) - The management of Gazprom is already factoring possible scenarios of dividend payments equivalent to 50% of IFRS net profit into the financial modeling for the current budget, the Russian gas giant's deputy CEO, Andrei Kruglov said at a meeting with investors in Singapore.

However, the final decision on the amount of dividends depends on shareholders, Kruglov said, citing examples from the company's recent history when the board of directors disagreed with management's position on this issue.

He also reiterated that raising Gazprom's dividend payout ratio, including possibly to 50% of IFRS net profit, should be put off until after the company gets through the peak of its investments in 2020.