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    Legal Expert says only Rivers State can collect VAT as at today following Appeal Court’s order to “maintain status quo”

    Wike describes Seyi Makinde as chief architect of PDP problems

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Breaking: President Tinubu dissolves Boards of Parastatals, Agencies, Institutions

    President Bola Tinubu Approves New Heads of Federal Agencies & Commissions

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

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    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

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    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    List of Dividends announced in 2025, qualification and payment dates

    Dangote Group announces major investment in rice production

    Dangote Group announces major investment in rice production

    Vacancy at Port Harcourt Refinery

    NNPC Ltd Announces Maintenance Shutdown of Port Harcourt Refinery

    Security features of the new naira notes revealed by the CBN

    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

    Dangote Refinery reduces petrol price by N15 nationwide

    Dangote Refinery reduces petrol price by N15 nationwide

    Jaiz Bank Plc Board of Directors propose over N830 mn as dividend for 2020

    Beta Glass Plc announces N2.95 final dividend for 2024 FY

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    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

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    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

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    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

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    Security features of the new naira notes revealed by the CBN

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    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

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    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

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Russia set to receive $10 billion as dividend from Gazprom after record profits this year

Friday, 2 September 2022, 12:11 am
in News, World
0
Russia set to receive $10 billion as dividend from Gazprom after record profits this year
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Russia is set to receive $10 billion as dividend from the state’s gas giant Gazprom after the energy firm reported a record net profit for the year’s first half.

Gazprom (GAZP.MM) made a record 2.5 trillion rubles ($41.75 billion) in net profit in the first half of 2022, up from 968 billion rubles in the first half of 2021’

The company’s board recommended paying interim dividends after skipping its annual payout for the first time since 1998.

Since Russia owns 50.2% of Gazprom, it stands to receive around half of an enormous investor payout worth $20 billion, or 1.21 trillion rubles, that the board proposed at 51.03 rubles per ordinary share, Business Insider reported.

Read also: Russia’s economy hasn’t collapsed as predicted by Wall Street following Ukraine invasion

The dividend is subject to shareholders’ approval at an extraordinary general meeting on September 30.

Gazprom shares climbed 24.95% on Wednesday after its earnings announcement but fell 2.27% on Thursday

The gas giants record profit comes as the US and Europe enact sweeping sanctions on the Russian economy, which the Biden administration said would deprive Russian leader Vladimir Putin of the funds he needs to continue the Ukraine invasion.

Russian natural gas accounted for around 40% of Europe’s gas power needs before the war in Ukraine.

Europe is grappling with energy crisis although it has largely avoided banning gas imports from Russia.

A key part Russian energy flow to Europe passes through Nord Stream 1 pipeline, which Putin has been accused of trying to “weaponize” by repeatedly cutting off the gas supply.

However, Gazprom has said that flow interruptions were due to technical difficulties and maintenance shutdowns.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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