Novatek, Russia's LNG export champion, plans to cut its interim dividend for 2020 by 17% after its earnings in the first half of the year were hit hard by the Covid-19 pandemic and an oversupplied LNG market (IOD Jul.29'20). The company's board has recommended paying 11.82 (16￠) rubles per ordinary share (118.2 rubles per global depositary receipt), down from an interim payout of 14.23 rubles/share last year. Shareholders will be asked to approve the recommendation at a virtual meeting on Sep. 30.
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