UPDATE 2-Russia's Gazprom proposes $3.9 bln dividend on 2020 results

(Adds Gazprom statement, updates share price)

MOSCOW, April 14 (Reuters) - Russian gas giant Gazprom proposed on Wednesday paying $3.9 billion in dividends on its 2020 results, around half its adjusted net profit for that year and a potential boost for the government which owns just over half of the company.

The company said its management board had recommended paying a dividend of 12.55 roubles per share.

The finance ministry has long insisted that government-controlled entities such as Gazprom and oil major Rosneft should pay at least half their net profit in dividends.

Gazprom shares were up 2% at 1224 GMT, outperforming the broader market which was up 1%. Gazprom’s board of directors and the annual general meeting must approve the payout.

Gazprom paid 15.24 roubles per share in dividends on its 2019 results, or 30% of its net profit under international financial reporting standards.

$1 = 75.7050 roubles Reporting by Katya Golubkova and Oksana Kobzeva; Editing by Mark Potter