MOSCOW- Russian gas giant Gazprom proposed on Wednesday paying $3.9 billion in dividends on its 2020 results, around half its adjusted net profit for that year and a potential boost for the government which owns just over half of the company.
The company said its management board had recommended paying a dividend of 12.55 roubles per share.
The finance ministry has long insisted that government-controlled entities such as Gazprom and oil major Rosneft should pay at least half their net profit in dividends.
Gazprom shares were up 2% at 1224 GMT, outperforming the broader market which was up 1%. Gazprom's board of directors and the annual general meeting must approve the payout.
Gazprom paid 15.24 roubles per share in dividends on its 2019 results, or 30% of its net profit under international financial reporting standards.
($1 = 75.7050 roubles)
(Reporting by Katya Golubkova and Oksana Kobzeva; Editing by Mark Potter) ((ekaterina.golubkova@thomsonreuters.com; +7 495 775 1242;))
