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    Rosneft approves record dividends for 2021

Summary

Gazprom, in contrast, has opted against paying dividends.

by: NGW

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Rosneft approves record dividends for 2021

Russia's state-owned oil producer Rosneft has decided to issue out record dividends for 2021, the company announced on July 1.

The policy contrasts with that of Russia's state-controlled gas producer Gazprom, which said on June 30 it had decided against paying dividends for 2021, despite earning record profits that year. Rosneft will pay 441.5bn ($8.1bn) in dividends to shareholders, it said, amounting to half of its net income in 2021.

While Gazprom's share price slumped after its dividend announcement, Rosneft's rose by 4.6%.