The Russian government has instructed Gazprom, once Russia's biggest company by revenue, not to pay out dividends, following record losses and a plummeting share price.Earlier this month, Gazprom Group, which also includes oil and power businesses, announced a net loss of 629 billion rubles for last year—the first since 1999. A decree on the government website, dated May 18, ordered Gazprom not 'to provide for the payment of dividends on ordinary registered shares,' for 2023.
5 percent in the biggest slump since October 10, 2022 when blasts ruptured three of four Nord Stream undersea pipelines to Germany.On Monday, Gazprom's shares on the Moscow exchange traded at 145.03 rubles , marking a year-on-year drop of more than a third . This is more than 60 percent less than the 367.6 rubles that shares were trading for on October 15, 2021, four months before Putin's full-scale invasion. As of midday Tuesday, shares had decreased further to 139.94 rubles .