Gazprom Board Recommends RUB 7.89 per Share Dividend

The Gazprom Board of Directors resolved to convene the annual General Shareholders Meeting of Gazprom at the Company's headquarters in Moscow from 10 a.m. (local time) on June 30, 2016. The registration of the Meeting participants is to be carried out on June 28 (from 10 a.m. to 5 p.m.) and on June 30 (from 9 a.m.).

The Board of Directors approved the agenda of Gazprom's annual General Shareholders Meeting

The Board of Directors recommended that the Shareholders Meeting approve the allocation of Gazprom's net profit based on the 2015 operating results.

The Board of Directors recommended that the Shareholders Meeting approve the proposal to pay out RUB 7.89 per share in annual dividends based on Gazprom's operating results in 2015 (9.6 per cent more than last year). In this way, the dividends will make up over 50 per cent of the adjusted net profit according to Gazprom's 2015 Annual Accounting (Financial) Statements compiled in compliance with the Russian law.

“The Board of Directors Members noted that this recommendation allowed us to maintain a consistently high and growing level of Gazprom's dividends and to have the optimum balance between dividends and investments,” said Alexey Miller, Chairman of the Gazprom Management Committee.

The Board of Directors proposed that the Shareholders Meeting approve the deadline for listing the shareholders entitled to receive dividends – July 20, 2016. The recommended deadline to receive dividends for the nominal shareholders and trustees who are stock professionals listed in the Register of Shareholders is August 3, 2016; for the rest of the registered shareholders – August 24, 2016.