MOSCOW, February 12 - RAPSI. The Moscow District Federal Commercial Court has upheld the Federal Financial Markets Service's decision to fine Gazprom 500,000 rubles ($16,570) on Wednesday.

The watchdog imposed a fine on the company for violating the dividend-paying procedure.

Although Gazprom contested the decision in court, the court ruled against the national gas provider, the court told RAPSI.

One of the company's shareholders complained to the watchdog, which imposed administrative sanctions on Gazprom after holding an inspection.

Gazprombank, as the depository and dividend-paying agent for Gazprom, failed to transfer the money to a shareholder who resides in Ukraine, according to the watchdog.
As a result, the shareholder did not receive the dividends until April 2, 2012, while the August 29, 2011 deadline was decided upon at a shareholders' meeting.