Russian energy giant Gazprom’s net profit fell more than40% to 1.226 trillion roubles ($15.77 billion) last year owing to a tax hike in the second half of the year, the company said on Tuesday, alsoannouncing it would not pay a full-year dividend.

The Kremlin-controlled firm said its board had decided not to pay a full-year dividend after allocating a half-year dividend of 1.2 trillion roubles ($15 billion).

Gazprom’s shares fell almost 4% after the dividend announcement.
Source: Reuters (Reporting by Vladimir Soldatkin; editing by Guy Faulconbridge and Kevin Liffey)