Gazprom shareholders to feel the exchange rate differences.

"Gazprom"’s dividends can be worth 7.2 roubles per share or 170.5 billion roubles in general. This is 20.2% higher than last year, but almost 20% lower than payments in 2011, which were the record for a monopoly. Last year the dividend base grew due to the revaluation of "Gazpromneft" and return of the reserved retroactive payments, but suffered from the exchange rate differences. In 2014 the experts expect further payments growth due to the increase in export revenues, "the Kommersant" writes.

The management of "Gazprom" recommended the Board of Directors to pay dividends for 2013 at 7.2 roubles per share or 170.45 billion roubles. This level will be 20.2 % higher than the payments in 2012, when the dividend amounted to 5.99 roubles per share. Thus, in accordance with the dividend policy, "Gazprom" will direct 25% of the RAS net profit of the parent company, "adjusted for the revaluation of financial investments and related economic essence of economic activity" for the dividend payment.