Gazprom shares lose a quarter of value after halting dividend

Moscow-listed shares of Russian natural gas giant Gazprom plunged 27% after the natural-gas giant decided not to pay a dividend. Famil Sadigov, its deputy chairman, said in a statement that paying a dividend was “unreasonable.” He said the company’s priorities are to implement its investment program and prepare for the coming winter. He also said Gazprom must be ready to pay a higher tax liability.

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