Govt sets norm of dividend payment by public sector for 2020 at 50% – resolution

The Cabinet of Ministers of Ukraine has established for the majority of enterprises with a state share the basic norm of dividend payment from profit based on the results of economic activity in 2020 at the level of 50%.

The corresponding resolution was adopted at a meeting of the Cabinet of Ministers on April 28.

Thus, the government, in particular, increased the rate of payment for PrJSC Ukrhydroenergo – in the previous draft resolution, withdrawn from consideration at a meeting on April 21, at the request of Minister of Economy Ihor Petrashko, who referred to the need for its revision, it was envisaged to establish the rate for the generating company at the level of 30%.

At the same time, according to the explanatory note to the document, the amount of dividends for Oschadbank is set at 30%, PrivatBank – 80%, Naftogaz – 95%, as envisaged by the previous resolution.

At the same time, the draft resolution posted on the website of the Ministry of Economy in February proposed a dividend rate for PrivatBank at the level of 75%.

The explanatory note states that the receipt of dividends from public sector enterprises for 2020 is expected to reach UAH 23.2 billion excluding dividends from Naftogaz, based on the loss of UAH 11.8 billion provided for in the financial plan for 2020.

As reported, the consolidated net loss of Naftogaz Ukrainy for 2020 amounted to UAH 19.002 billion compared to a net profit of UAH 63.294 billion in 2019 under the influence of low demand and gas prices, as well as due to reserves of doubtful debts.

PrJSC Ukrhydroenergo in 2020 increased its net profit by 28.4% (by UAH 914.348 million) compared to 2019, to UAH 4.137 billion.

Source: www.en.interfax.com.ua