Russia Cuts Gazprom Dividend Forecast as Pipeline Spending Rises - Bloomberg:
"OAO Gazprom, Russia’s state-run gas producer, will pay a lower dividend than expected in 2016 as investments in export pipelines soar, according to a document prepared for a government meeting last week.
The Finance Ministry expects to receive 84.4 billion ($2.5 billion) from Gazprom dividends in 2016, 32 percent less than an earlier forecast of 124.7 billion rubles, according to the document, obtained by Bloomberg News. The new figure equates to 9.3 rubles per share, data compiled by Bloomberg show.
The government’s lower forecast for dividends may reflect Gazprom’s investment plans. The world’s largest gas exporter decided in May to spend $55 billion in next decade to build a gas pipeline to China and develop East Siberian fields. It must also finance the $22 billion South Stream pipeline project to the European Union."
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