Ulyukayev says Gazprom may purchase its shares from VEB, idea still being discussed
SOCHI. May 20 (Interfax) - The Russian Economic Development Ministry does not rule out that Gazprom will acquire its shares currently held by Vnesheconombank (VEB) , but this idea is still being discussed, Economic Development Minister Alexei Ulyukayev told journalists.
"As far as whether any additional transfers from the company to the budget can take place, that issue is being discussed. We don't rule out that the company will acquire its shares, Gazprom ADRs, that are currently held by VEB. But this is still being discussed."
Commenting on the board of directors' decision to recommend a dividend for 2015 of 7.89 rubles per share or a total of 71.674 billion rubles on the stake held by state property agency Rosimushchestvo, Ulyukayev said the decision has been made that the volume of dividends fully accord with the amount set down in the budget.
"Indeed, a decision was taken that the volume of dividends fully accord with the amount set in the budget. The figure, 7.89 rubles per share, was reached in a calculated fashion. It means that the company will pay around 50% of profit to Russian Accounting Standards (RAS) and about 25% to International Financial Reporting Standards (IFRS). In taking this decision, we took into account the company's rigorous investment program, and also, that last year a decision was taken to increase the required taxes of the company," Ulyukayev said.