Gazprom 2012 Net Income Drops 37%, Weighing on Dividend Outlook

OAO Gazprom, Russia’s largest natural-gas producer, said 2012 profit fell 37 percent based on domestic accounting standards, weighing on its dividend outlook.

Net income declined to 556 billion rubles ($17.9 billion), the company said today in a statement on its website.

Gazprom’s dividend would be 139 billion rubles, or 5.9 rubles a share, based on its policy of paying out a quarter of profit to shareholders. That compares with the 7 ruble to 8 ruble figure it estimated in a presentation in February.

The company paid 8.97 rubles for 2011. It has about 23.7 billion shares outstanding, data compiled by Bloomberg show.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Wojciech Moskwa at wmoskwa@bloomberg.net

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