Business news from Ukraine

“Ukrnafta” has transferred UAH 3.5 bln in dividends to state for 2023

Ukrnafta has transferred UAH 3.5 billion in dividends to Naftogaz of Ukraine based on its 2023 performance, the company’s press service said on Tuesday.

Taking into account the previously transferred dividends for the previous year, the company paid a total of about UAH 8 billion to another shareholder represented by the Ministry of Defense of Ukraine under this item.

“About UAH 8 billion has been transferred to the accounts and depositories of the company’s state shareholders – the Ministry of Defense of Ukraine and Naftogaz of Ukraine. The company is supporting the country’s economy and working for victory,” said Sergiy Koretsky, CEO of Ukrnafta.

As a reminder, in 2023, the company also paid UAH 25.7 billion in taxes and fees to the budgets of all levels.

As reported, in early February, the Cabinet of Ministers of Ukraine established that Naftogaz of Ukraine should allocate 95% of its net profit to dividends, and Ukrnafta – 30%, provided that 50% of the profit will be used for capital investments approved by the government in the company’s financial plan for 2024.

“Ukrnafta, in which Naftogaz owns 50%+1 share, announced that in 2023 it made a net profit of UAH 23.6 billion compared to a loss of UAH 1.1 billion in 2022.

Earlier, Naftogaz Group CEO Oleksiy Chernyshev said that in terms of dividend policy, Naftogaz would receive UAH 12.1 billion from Ukrgasvydobuvannya last year, UAH 6.6 billion from Ukrtransgaz, UAH 5.3 billion from Ukrtransnafta, and UAH 3.5 billion from Ukrnafta.

“Ukrnafta is the largest oil producer in Ukraine and operates a national network of 537 filling stations, of which 456 are in operation.
The company is implementing a comprehensive program to restore operations and update the format of its filling stations. Since February 2023, Ukrnafta has been issuing its own fuel coupons and NAFTAKarta cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.

Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share. On November 5, 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state a share of corporate rights of the company owned by private owners, which is now managed by the Ministry of Defense.

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“Astarta” to pay EUR 12.5 mln in dividends for 2023

Astarta Agro Holding will pay dividends for 2023 in the amount of EUR0.5 per share for a total of EUR12.5 million, which is in line with the previous year.

As stated in the company’s announcement on the Warsaw Stock Exchange, this decision was made by the shareholders’ meeting on June 4 this year, instructing the board of directors to determine the dates of payment.

As reported, Astarta first paid EUR12.155 million in dividends in June 2021 based on the results of 2020 in the same amount as proposed now – EUR0.5 per share. In the military year of 2022, the company refused to pay them, and then paid them in 2023.

Astarta’s shares are currently quoted at PLN29.25 per share (about EUR6.81 per share), while about a year ago, when the dividend decision was approved, the rate was PLN32.80 per share (about EUR7.28 per share).

In 2023, Astarta, the largest sugar producer in Ukraine, reduced its net profit by 5.0% to EUR 61.9 million, and its EBITDA decreased by 6.1% to EUR 145.77 million, while revenue increased by 21.3% to EUR 618.93 million.

Astarta CEO Viktor Ivanchik’s family currently owns 40.68% of the company. Fairfax Financial Holdings is also a major shareholder with 29.91%, and another 2.12% of shares belong to the company itself and were previously bought back as part of a buyback.

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Kokhava Paper Mill to pay UAH 6.85 mln in dividends for 2023

In the period from June 17 to October 24 this year, the shareholders of Kokhavynska Paper Mill JSC (KPM, Lviv region) will be paid dividends for 2023 totaling UAH 6.852 million out of the net profit of UAH 137.043 million.

According to the company’s publication in the disclosure system of the National Securities and Stock Market Commission (NSSMC), the relevant decision was made by the general meeting of shareholders on April 25.

Dividends will be paid in the amount of UAH 2.41 per share with a par value of UAH 0.25.

According to the NSSMC data for the first quarter of 2024, almost 12% of the company’s authorized capital belongs to the chairman of the supervisory board Mykhailo Tytykalo, his daughter and member of the SB Larysa Tytykalo – 8.49%, his granddaughter Maria Goryanskaya – 10%, Tamara Tytykalo – 15.5%, members of the Supervisory Board Oleksandr Teletkov, Igor Kostyrko and Roman Pirig – more than 11.12% and 11.92% and 7.88%, respectively, and Oksana Serembytska – 7.88%.

The authorized capital of the company is UAH 711.83 million, divided into 2 million 847 thousand 328 shares.

Operating since 1939, Kokhavynka Paper Mill produces base paper for sanitary and hygiene products, as well as toilet paper and paper towels under the Kokhavynka trademark (made from waste paper) and the Kokhavynska Papirnya and Mildi trademarks (cellulose).

As reported, in 2023, the factory increased its production by 18% compared to 2022, to UAH 1 billion 151.2 million. Net profit increased 2.7 times.

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“Astarta” to pay dividends for 2023 at EUR 0.5 per share

Astarta Agro Holding plans to pay dividends for 2023 in the amount of EUR0.5 per share for a total of EUR12.5 million, which is in line with the previous year.

As stated in the company’s announcement on the Warsaw Stock Exchange, the relevant draft decision has been included in the agenda of the shareholders’ meeting to be held in Nicosia (Cyprus) on June 4 this year.

Other issues include: adoption of a new remuneration policy; confirmation of PriceWaterhouseCoopers as auditor for 2023; and instructing the board of directors to elect an auditor for 2024.

As reported, Astarta first paid EUR12.155 million in dividends in June 2021 based on the results of 2020 in the same amount as proposed now – EUR0.5 per share. In the military year of 2022, the company refused to pay them, and then paid them in 2023.

In 2023, Astarta, the largest sugar producer in Ukraine, reduced its net profit by 5.0% to EUR61.9 million, and its EBITDA decreased by 6.1% to EUR145.77 million, while revenue increased by 21.3% to EUR618.93 million.

Astarta CEO Viktor Ivanchik’s family currently owns about 40.66% of the company. Fairfax Financial Holdings is also a major shareholder with 29.91%, and another 2.62% of shares belong to the company itself and were previously bought back as part of a buyback.

Astarta’s shares are currently quoted at PLN26.6 per share (about EUR6.23 per share), while about a year ago, when the dividend decision was approved, the rate was PLN32.80 per share (about EUR7.28 per share).

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Oschadbank to pay UAH 6 bln in income tax and dividends to budget

State-owned Oschadbank (Kyiv) has so far paid UAH 4.2 billion in income tax and UAH 0.7 billion in dividends to the budget based on the results of its operations in 2023 and plans to make another final payment of UAH 1.1 billion, the Oschadbank press service said at the request of Interfax-Ukraine on Wednesday.

“The budget will receive a total of UAH 6 billion from income tax and dividends, UAH 0.5 billion is taken into account in the calculations for previous periods,” the press service of the financial institution noted.

According to the finalized financial results, the bank earned UAH 6 billion in net profit last year, which, according to the bank, is the second highest figure in the market after PrivatBank.

As of March 1, 2024, Oschad ranked second in terms of total assets (UAH 376.4 billion) among 63 banks in the country.

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PrivatBank transferred almost UAH 50 bln of income tax and dividends to budget for past year

The amount of income tax and dividends for 2023 that state-owned PrivatBank (Kyiv) transferred to the state budget amounted to almost UAH 50 billion, Yulia Metzger, a member of the bank’s Supervisory Board, said at the International Financial Club BANKIR conference.
“Already in February this year, the Supervisory Board decided that the bank had transferred to the budget an advance payment of dividends and income tax based on the results of the previous year in the amount of almost UAH 50 billion,” she said.
According to the NBU, PrivatBank’s pre-tax profit for 2023 amounted to UAH 72.77 billion, and income tax expenses amounted to UAH 35 billion. According to the government’s decision, 80% (UAH 30.2 billion) of the remaining net profit of UAH 37.76 billion should be used to pay dividends.
As reported, on February 12, Privat transferred the amount of income tax and the first tranche of dividends for 2023 in the amount of UAH 26 billion to the state budget in advance.
PrivatBank is the largest bank in the country, with total assets of UAH 848.64 billion as of March 1, 2024, or 25.9% of the assets of all 63 banks.

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