The biggest company in Russia, Gazprom ( OGZPY , quote ) itself, is finally acknowledging the wishes of minority shareholders to get a dividend.
OGZPY is setting aside 200 billion rubles a year -- $6.5 billion -- to pay its investors. At current prices, that translates into roughly a 5% yield.
Local investment media are climbing all over this. OGZPY has never been friendly to little investors. It is a megalith that pushes whole nations around.
Just this stock accounts for 8% of broad Russian funds like RSX ( quote ), so if this moves the needle for OGZPY, it moves Moscow.
In fact, arguably this move counts as "stimulus."
The next date to look at is December 20, when the board of directors is due to approve the next year's budget.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.