Gazprom shares soar 30% after record dividend

Gazprom shares soar 30% after record dividend

MOSCOW Reuters - Shares in Russian gas giant Gazprom leapt more than 30% in early Moscow trade after the company posted a record first-half profit and recommended interim dividends after the previous session closed.

The board of directors of Gazprom said on Tuesday it had recommended paying 51.03 roubles $0.8505 per ordinary share in dividends in the first half of 2022, taking the overall dividend payout to 1.208 trillion roubles $20.13 billion. Management has made Gazprom's first interim dividend catch us, and the market, by complete surprise, according to BCS Global Markets. This is easily one of the more positive shareholder events in the company's history, according to our view. Gazprom dividends are a sensitive issue for the market, which was disappointed in June by the Russian government's decision not to pay dividends on last year's results.

Gazprom's Moscow shares were up 27.6% since June 30 and were at their highest level since June 30.

The dollar-denominated RTS index was up 3.6% to 1,255, according to the group. 7 points. The Russian MOEX index was 4% higher at 2,399. Its strongest point since May 30 was reached by 1 points.

The rouble was 0.4% less against the dollar at 60.17 and lost 0.4% to trade at 60.25 versus the euro.