"Gazprom" will not pay dividends for 2023

At the annual general meeting, Gazprom's shareholders decided to abandon the payment of dividends for 2023.

This is reported by RBC-Ukraine with reference to Russian Telegram channels.

As noted, in 2023, Gazprom received a net loss of 629 billion rubles, which happened for the first time since 1999.

Therefore, the shareholders' decision was natural, given the fall in Gazprom's profits.

Thus, in 2022, Gazprom's revenue amounted to 11.6 trillion rubles, and in 2023 - 8.5 trillion rubles. Accordingly, the company's net debt increased to 2.96 from 1.07 at the end of 2022.

According to the company's dividend policy, Gazprom's board of directors has the right to change dividend payments if the debt burden exceeds 2.5.

Gazprom Group's gas production decreased as follows:

• in 2021, it amounted to 514 billion cubic meters;

• in 2022, the figure reached 412 billion cubic meters;

• in 2023, it amounted to 355 billion cubic meters, a decrease of almost 14%.

Gazprom noted that the decline in export volumes to the European market was due to the refusal of some EU countries to import Russian pipeline gas. At the same time, in 2023, the company increased supplies to China via the eastern route by 50%.

Author - Serhii Kolomiets, 29/06/2024