“Gazprom” held an annual meeting of shareholders, which had a new composition of the Board of Directors. The shareholders also discussed the payment of dividends for 2021 and decided not to pay them, Kommersant reports. Earlier, the Board of Directors recommended paying a record dividend of 52.53 rubles per share. The company’s papers are losing 30 per cent on the Moscow Exchange.

“Gazprom’s (MCX:GAZP) priorities at the moment are the implementation of the investment programme, including gasification of Russian regions, and preparation for the upcoming winter. And, of course, we must be ready to fulfil our obligations to pay taxes at an increased rate,” said Famil Sadygov, deputy chairman of Gazprom’s management board.

Earlier in May, Gazprom’s Board of Directors recommended shareholders to approve a record dividend in the company’s history.