Financial Shock: 'Gazprom', 'Norilsk Nickel' and other Russian giants cease dividend payments.

Russian companies have suspended dividend payments due to the economic crisis, reports the Ukrainian Foreign Intelligence Service. More than 20 Russian public companies have decided to halt dividend payments due to falling profits, sanctions, and high borrowing costs.

'The total profit of companies for 2024 amounted to 30.4 trillion rubles, which is 6.9% less than in the previous year. After taking inflation (9.4%) into account, the decline in real profit is approximately 15%, which is equivalent to nearly 380 billion USD. At the same Time, the losses of these companies increased by 37.7% to 7.2 trillion rubles, or about 90 billion dollars'

Among the companies that have stopped dividend payments are leaders in the mining and energy sectors, such as 'Gazprom', 'Norilsk Nickel', NLMK, 'Severstal', en+ group, 'Rusal', 'Rosseti'. Many of these companies are facing financial problems, for instance, 'Gazprom' has lost significant export revenues, and NLMK has incurred huge losses this year.

Problems have affected all sectors of the economy

The crisis has impacted all sectors of the economy, including retail, real estate, agriculture, logistics, machinery, and medicine. Even large companies like 'Magnit', 'Lenta', 'M.Video', 'KAMAZ' have suspended dividend payments. In the near future, 'RusHydro', 'Alrosa', and 'Aeroflot' will join this category.

The crisis in the Russian economy has led dozens of companies to suspend dividend payments due to falling profits and financial problems. The mining and energy sectors have been hit hardest, and problems have spread across various sectors of the economy, including retail, real estate, and medicine.