The board of directors of IMC agricultural holding has announced payment of interim dividends to the company’s shareholders in the amount of EUR0.18 per share.
According to the company’s statement on the Warsaw Stock Exchange (WSE), dividends will be paid in euros on August 28, 2020.
According to the WSE, the share price of IMC on August 14 fell by 1.77%, to PLN11.1 per share.
IMC specializes in cultivation of grain, oilseeds and milk production in Ukraine. The agricultural holding cultivates about 123,300 hectares of land in Poltava, Chernihiv and Sumy regions. It owns capacities for storage of 554,000 tonnes of grain and oilseeds.
In 2019, IMC agricultural holding posted $7.32 million in net profit, which is 3.8 times less than in 2018. IMC’s revenue for this period increased by 29%, to $169.6 million, of which $ 142.67 million is export.
The Cabinet of Ministers of Ukraine at a Wednesday meeting supported a bill of the Ministry of Infrastructure on the transfer of dividend payments for 2018-2019 by JSC Ukrzaliznytsia to no later than December 31, 2020 aiming at reducing the economic fallout from the coronavirus COVID-19 and the impact of lockdown on the financial and economic activities, the press service of the Ministry of Infrastructure has said.
According to an explanatory note to the bill, it is anticipated that the suspension of passenger traffic in Ukraine from March 18, 2020 will have a negative impact on the net profit of Ukrzaliznytsia in the amount of up to UAH 1 billion. At the same time, Ukrzaliznytsia was obliged to return significant amounts of funds for previously purchased tickets (almost UAH 300 million) to passengers.
In addition, a decrease in domestic production and the suspension of private shipping enterprises could result in the reduction in freight traffic in the first half of the year by 3-8% and will lead to a decrease in the volume of Ukrzaliznytsia earnings. In addition, due to the devaluation of the national currency in the first quarter of this year, FX losses in the amount of about UAH 5 billion are expected.
The document was agreed by the Ministry of Finance and the Ministry for Economic Development, Trade and Agriculture.
