Gazprom recommends dividend of 0.011 dollars/share

The board of Russian energy giant Gazprom recommended the value of dividends to be distributed at 0.36 ruble/share (0.011 dollars per share), down from 0.37 rubles/share initially announced.

The press release, made public on the company’s webpage is not explaining why the approved value was lower than the numbers announced on Monday.

Gazprom said in March its fourth-quarter 2008 losses stood at 259.87 billion rubles (7.76 billion dollars). In a quarter earlier, the company booked net profit of 147.19 billion rubles. The results were calculated based on Russian Accounting Standards.

Analysts say they tend to assess Gazprom’s financial performance by the international financial reporting standards, but see the RAS report as an important indice. A company representative said recently the company didn’t expect losses in fourth quarter of the year.


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