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Gazprom to pay record high dividends thanks to 'very good' 1H 2022 results — CEO

Alexey Miller pointed out that such financial results allowed Gazprom to say that the company was reliably provided with cash flow for the implementation of its strategic investment projects

MOSCOW, August 31. /TASS/. Gazprom is going to pay record-breaking dividends for the first half of the year thanks to the fact that the company’s financial results for this period are "very good," the company’s CEO Alexey Miller said at a meeting dedicated to the Day of Oil and Gas Industry Workers.

"You know that the Board of Directors met yesterday and decided to hold an extraordinary meeting of shareholders to consider payment of interim dividends for 2022. The results of the work for the first half of the year are very good, and record dividends will be paid," he said.

"Of course, such financial results allow us to say that we are reliably provided with cash flow for the implementation of our strategic investment projects," Miller added.

Earlier, the board of directors of Gazprom recommended to pay dividends for the first half of the year in the amount of 51.03 rubles per share. In total, Gazprom can allocate 1.208 trillion rubles ($20 bln) for dividends for the first six months of 2022, the holding previously reported.

On August 20, Deputy CEO of Gazprom, Famil Sadygov, said that, despite sanctions pressure and an unfavorable external environment, in the first half of 2022, the Gazprom group posted record revenues and net profit under IFRS while reducing net debt and the level of debt burden to the minimum values. The company’s net profit amounted to 2.5 trillion rubles ($41.3 bln).

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