Gazprom board recommends 2.39 rubles per share for 2009
MOSCOW. May 21 (Interfax) - The board of directors of Gazprom has recommended a dividend of 2.39 rubles per share for 2009, the same as company management had recommended.
The dividend is the equivalent of 17.5% of the net profit of the lead company excluding the "paper portion" of the profit, stemming from a revaluation of publicly traded subsidiaries, mainly Gazprom Neft and not representing an actual cash flow.
Gazprom has traditionally paid 17.5% of the lead company's net profit under Russian accounting standards. However, the government limited the dividend for 2008 to 5% of net profit due to a large "paper" loss. The dividend for that year was 0.36 rubles per share.
Gazprom shareholders' will hold their annual meeting on June 25.
Gazprom's dividend history for the last ten years is as follows:
|Year||Dividend (rubles per share)||Net profit (bln rubles)|