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Gazprom board has recommended the annual shareholder meeting to cut 2008 dividends by 70%, saving the company 21.5 billion rubles ($670 million).

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Gazprom reports 78.7% net profit drop in first quarter 
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KRASNAYA POLYANA, Russia, February 11 (RIA Novosti)
WASHINGTON, February 11 (RIA Novosti)
WASHINGTON, February 11 (RIA Novosti)
NEW YORK, February 11 (RIA Novosti)