Page last updated at 13:33 GMT, Monday, 18 May 2009 14:33 UK

Gazprom slashes dividend by 86%

Gazprom headquarters in Moscow
Gazprom supplies about one quarter of Europe's gas needs

Russian gas producer Gazprom has said it will cut its dividend by 86% after being hit by falling profits.

The world's largest producer of gas will pay a dividend of 0.37 roubles (11 cents; 7p) a share, a seventh of last year's payment of 2.66 roubles.

Gazprom said its net profit in the fourth quarter of 2008 had fallen 84% to $1.1bn as global demand declined.

Gazprom's net debt was $41bn at the end of the year, making it the country's biggest debtor.

Separately, Russia's statistics agency said the country's industrial production in April was 16.9% lower than the same month last year.

Print Sponsor

The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

Copyright © 2017 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific