Moscow Eyes Bumper Dividend as Gazprom Profit Soars

摘要

Russia's Gazprom on Thursday posted a strong rise in net profits for 2015 but could pay a heavy price for its success after the Kremlin told state-controlled firms to cough up higher dividends to help it fill the void in the Russian budget created by slumping oil revenues (IOD Apr.14'16). Gazprom's net profit under International Financial Reporting Standards (IFRS) came in at 787.1 billion rubles ($12.23 billion) for the year, up from 159 billion rubles in 2014, as the negative effect from the devaluation of the ruble was less pronounced.