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The number of affected investors is estimated by The Bell at tens of thousands.
8.3.2 Dividends dynamics
Russia’s Gazprom announced on June 30 it had decided not to pay a dividend on its record profit last year, triggering a steep fall in its share price. The company, whose main owner is the Russian state, said that “in the current situation” its shareholders had decided it was “not advisable” that it pay dividends on its 2021 income, which came in at a record RUB2.09 trillion ($29bn) on the back of soaring gas prices. Gazprom earlier this year pledged to pay out RUB1.244 trillion in dividends from this income, or RUB52.53 per share. The announcement led Gazprom’s share price to plunge 27%, although it caused the ruble to strengthen further, given that foreign investors typically convert Gazprom’s ruble-denominated dividends into other currencies. The ruble is currently priced at about 54-55 to the US dollar, compared with a record low of nearly 136 to the dollar on March 10.
128 RUSSIA Country Report October 2020 www.intellinews.com