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Russian rouble up; Gazprom shares plummet after it skips dividend

Gazprom shares fell 27% to 218 roubles ($4.16) by 0941 GMT after the company said its shareholders had decided against distributing dividends on the 2021 results

Gazprom, oil
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A board with the logo of Gazprom Neft oil company is seen at a fuel station in Moscow, Russia. <b>Photo: Reuters</b>

Reuters
The Russian rouble rose on Thursday, heading towards its strongest levels since 2015 as it retained support from high commodity prices, while shares in Gazprom plummeted after the gas giant said it would not pay dividends.
 
Gazprom shares fell 27% to 218 roubles ($4.16) by 0941 GMT after the company said its shareholders had decided against distributing dividends on the 2021 results.
 
The decision put some pressure on the rouble as investors usually convert dividend payments they receive into foreign currency and other assets.
 
The lack of Gazprom payout this year removed additional short-lived support for the Russian currency, said

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First Published: Jun 30 2022 | 4:14 PM IST

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