Gazprom surges 30pc

MOSCOW, Aug 31 (Reuters): Shares in Russian gas giant Gazprom leapt more than 30 per cent in early Moscow trade on Wednesday after the company posted a record first-half profit and recommended interim dividends, pushing the benchmark MOEX stock index to a three-month high.

After the market close on Tuesday, Gazprom said its board had recommended paying 51.03 roubles ($0.8505) per ordinary share in dividends on the first half of 2022, taking the overall dividend payout to around $20 billion.

"Management's decision to make Gazprom's first-ever interim dividend has caught us, and the market, by complete surprise," said BCS Global Markets in a note.

"In our view, this is easily one of the more positive shareholder events in the company's history."