GAZPROM'S CAPITALIZATION EXCEEDS 5 TRILLION RUBLES FOR THE FIRST TIME IN 8 YEARS

HomeNewsGAZPROM'S CAPITALIZATION EXCEEDS 5 TRILLION RUBLES FOR THE FIRST TIME IN 8 YEARS

For the first time since 2011, Gazprom's capitalization exceeded 5 trillion Roubles (about EUR 68 bln). The reason, say the experts, is the decision of the Board of Directors dividends distribution.

During the trading at the Moscow Stock Exchange on May 23, the share price of Gazprom reached 212 Roubles, an 1.8% growth. As a result, corporate capitalisation exceeded 5 trillion Roubles.

According to analysts, this was the first time since June 2011. “This is not a record capitalisation. The maximum level was reached in May 2008, when the company cost 8.7 trillion Roubles,” said the expert. According to experts, the main reason for the growth was the recommendation of the Board of Directors to pay a record dividend for 2018, as well as good results, which allow making such payments.

The cost of Gazprom's shares exceeded 200 Roubles (€2.73) for the first time in seven years. The payment of record dividends more than doubled the level of those paid in 2017. The shareholders' meeting was held at the end of June 2019 in St. Petersburg.