Russia's Gazprom proposes 2018 dividend hike to 16.61 rbls/share

MOSCOW: Russian gas producer Gazprom's management board on Tuesday proposed a 2018 dividend payout of 16.61 roubles ($0.25) per share, up from a previous proposal of 10.43 roubles.

Gazprom shares soared to a seven-year high of 177.23 roubles, up more than 8% on the day, following the dividend announcement.