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.

(Bloomberg)

Read more

We need your help now more than ever.

Independent media outlets and journalists in Russia are being increasingly targeted with “foreign agent” and “undesirable” labels, threatening the existence of the free press day by day.

Your donation to The Moscow Times directly supports the last independent English-language news source within Russia.