Gazprom Targets Dividend Payout Equivalent to 50% of Adjusted Profit by 2021

Date : 12/13/2019 @ 9:00AM
Source : Dow Jones News
Stock : Pjsc Gazprom (PC) (OGZPY)
Quote : 7.61  -0.07 (-0.91%) @ 4:57PM

Gazprom Targets Dividend Payout Equivalent to 50% of Adjusted Profit by 2021

PJSC Gazprom (USOTC:OGZPY)
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   By Ian Walker 
 

Gazprom PJSC (GAZP.RS) said Friday that it is planning to pay 50% of its adjusted net profit as dividends by 2021 and targeting 1.10 trillion Russian Rubles ($17.67 billion) of investments for 2020.

The Russian gas giant said that it will gradually increase dividend payouts with at least 30% of adjusted net profit in 2019, 40% in 2020 and no less than 50% by 2021.

Gazprom also said that it expects borrowings for 2020 to be RUB557.8 billion.

Both the dividend policy and budget proposal have been approved by the management committee and will now be submitted to the board for consideration, Gazprom said.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

December 13, 2019 03:45 ET (08:45 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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