Support The Moscow Times!

Gazprom Neft Eyes Dividend

Gazprom Neft may raise its dividend payout as a percentage of net income even as profit climbs to a record, first deputy chief executive Vadim Yakovlev said.

Gazprom Neft may pay out 23 percent of net income under U.S. GAAP standards this year, compared with 22 percent last year, Yakovlev said Tuesday.

The oil producer expects profit to rise 71 percent to $5.4 billion this year, according to a presentation to analysts Tuesday. Capital spending may increase to $4 billion next year from $3.8 billion this year, Yakovlev said.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.