Gazprom has found its own explanation for the fall in shares.
Gazprom shares fall after discrete auction continues , the price at the moment has fallen by 32.1%. This was reported by Interfax with reference to the data of the Misbirzhi.
The market was partly affected by the liberation of Snake Island from the Russian occupiers.
However, according to Russian media, the market reacted to the company's decision not to pay dividends for 2021.
“This decision was made during a shareholders' meeting. It is “impractical” to pay dividends in the current conditions. Dividends were expected to reach a record high, “the report said.
The company said it now prioritizes an investment program, including gasification, winter preparations and higher taxes.
However, It will be recalled that Gazprom shares also fell on February 25. Then the Central Bank stopped the fall of shares, closing trading on the Moscow Stock Exchange. However, according to trading on the London Stock Exchange, in early March, Gazprom shares lost more than 96% in value and cost about three cents.
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It will be recalled that in April, Russian authorities banned Gazprom from placing depository receipts on the company's securities outside the country. That is, the company withdrew from foreign markets and refused foreign loans.
