JSC “Galnaftogaz Concern,” which operates one of the largest OKKO gas station chains, will pay 3.1 billion UAH in dividends based on 2023 results, according to the SMIDA disclosure system.
“The total amount of dividends to be paid is 3,100,000,000.00 UAH. The dividend per share is 0.158758424 UAH,” the statement reads.
This decision was approved by the general meeting of shareholders on October 9.
The payment period for dividends, which will be distributed directly to shareholders, is set from November 6, 2026, through April 6, 2027 (inclusive).
As previously reported, the general meeting of shareholders of JSC “Concern “Galnaftogaz” decided to allocate UAH 1.26 billion toward dividends based on the 2024 results—the majority of the 2024 net profit of UAH 1.4 billion. It was also decided to leave an additional 0.17 billion UAH undistributed at the company’s disposal. The dividend per share amounted to 0.064 UAH.
Later, Vasyl Danylyak, CEO of the OKKO Group of Companies, noted that OKKO would allocate its 2024 dividends, totaling 1.26 billion UAH, to new investment projects in the energy and agriculture sectors.
The OKKO Group unites more than 10 diverse businesses in the fields of manufacturing, trade, construction, insurance, services, and other sectors. The group’s flagship company is the Galnaftogaz concern, which operates one of Ukraine’s largest gas station networks under the “OKKO” brand, comprising nearly 400 gas stations.
The founder and ultimate beneficiary of the group is Vitaliy Antonov.
According to Fixygen, JSC Concern Galnaftogaz will hold a remote general meeting of shareholders on March 17, 2026, through the Ukrainian depository system.
The agenda includes, in particular, the approval of annual results and financial statements, review of management reports, decisions on the distribution of profits or coverage of losses, as well as other issues provided for by corporate procedures.
JSC Concern Galnaftogaz is one of Ukraine’s largest fuel groups, developing a network of filling stations under the OKKO brand and related services. The group’s headquarters are located in Lviv.
The general meeting of shareholders of JSC Concern Galnaftogaz has decided to allocate most of its net profit for 2024 to dividend payments, according to the SMIDA information disclosure system.
According to the report, the total amount of dividends payable for last year is UAH 1.26 billion. The dividend per share is UAH 0.064. The payment period is from May 26 to October 30, 2025 (inclusive).
In accordance with this decision, on May 8, the board of directors of the concern decided to set May 23 as the date for compiling the list of persons entitled to receive dividends.
As reported, at the end of 2024, JSC Concern Galnaftogaz received UAH 1.424 billion in net profit. “Our company pays dividends from one business and reinvests the funds in the creation of new infrastructure and jobs in Ukraine in others. We are talking about our projects in renewable energy – we are building a 147 MW wind farm, with plans for a second phase with a larger capacity of 190 MW; a biofuel production plant is also under construction, and we are developing the agricultural sector. Investments in alternative energy alone amount to over €600 million. These projects are being implemented despite all the military risks, which demonstrates our company’s long-term business motivation within the country,” commented Vasyl Danylyak, CEO of the OKKO group of companies.
Vitaliy Antonov, a shareholder of GNG RETAIL LIMITED registered in Cyprus, who owns 99.22619% of its shares, initiated the distribution of profits at the shareholders’ meeting on April 30, 2025, as follows: UAH 1.26 billion for dividends and UAH 165.67 million to be left undistributed at the disposal of the joint-stock company.
Another draft resolution of the meeting on the distribution of profits provided for leaving it undistributed at the disposal of the joint-stock company.
Galnaftogaz manages one of the largest OKKO fuel station chains, which has over 400 complexes with a network of catering establishments. The concern also includes other businesses.
In June 2024, the EBRD and OKKO signed a EUR60 million loan agreement at the Ukraine Recovery Conference in Berlin for the construction of a new bioethanol plant in the Ternopil region with a capacity of 83,000 tons per year. It is planned to be built in two years. The products will be sold on foreign and domestic markets.
Recently, Vasyl Danylyak, CEO of the OKKO group of companies, announced that its 20 MW energy storage facility (ESF), which was completed at the end of 2024, could start providing energy balancing services to NEC Ukrenergo next month.
He also noted that the group is diversifying its business and, as part of this diversification, is developing a number of projects in renewable energy.
According to Danylyak, active preparations are underway for the construction of a 147 MW wind farm in the Volyn region, with financing provided by a number of international financial institutions. The company plans to complete the first phase of the wind farm by the end of this year, with full capacity expected to be reached by the end of the first quarter of next year.
Danylyak also announced further plans to implement a larger project in the Volyn region – a 190 MW wind farm, which has been under development for the past two years. Its cost is estimated at EUR 300 million, while the 147 MW wind farm is estimated at EUR 240 million.
According to him, the company is working with various financial institutions to raise funds for this project.
JSC Concern Galnaftogaz may allocate most of its net profit for 2024 in the amount of UAH 1.424 billion, namely UAH 1.26 billion, for dividends, so that UAH 165.67 million is left undistributed at the disposal of the company, according to the information disclosure system of the National Securities and Stock Market Commission.
It is reported that the initiative to distribute net profit at the shareholders’ meeting scheduled for April 30, 2025 belongs to the Cyprus-registered shareholder of GNG RETAIL LIMITED (Vitaly Antonov’s GNG RETAIL LIMITED), which owns 99.22619% of the company’s shares.
Another draft resolution on the distribution of net profit provides for leaving it undistributed at the disposal of the company.
As reported, Galnaftogaz operates one of the largest networks of OKKO filling stations, which includes more than 400 complexes with a network of catering facilities. The concern also includes other businesses.
Last June, the EBRD and OKKO signed a EUR60 million loan agreement at the Ukraine Recovery Conference in Berlin to build a new bioethanol plant in Ternopil region with a capacity of 83,000 tons per year. It is planned to be built in two years, and the products will be sold on foreign and domestic markets.
Recently, OKKO Group CEO Vasyl Danyliak said that its 20 MW energy storage facility, which was completed at the end of 2024, could start providing power system balancing services to NPC Ukrenergo next month.
He also noted that the group is diversifying its business, and as part of this diversification, it is developing a number of renewable energy projects.
According to him, active preparations are underway for the construction of a 147 MW wind farm in Volyn region, for which a number of IFIs have provided loans: the company plans to complete the first phase of the wind farm by the end of this year, and it will be fully operational at the end of the first quarter of next year. In addition, Danyliak noted that further plans include the implementation of a larger project in the Volyn region – a 190 MW wind farm, which the company has been working on for the past two years. He estimated its cost at EUR300 million, while the 147 MW wind farm is worth EUR240 million. According to him, the company is working with various financial institutions to raise funds for this project.
The International Finance Corporation (IFC) from the World Bank Group has signed documents on December 20, 2024 to provide Concern Galnaftogaz with a $53.87 million loan to finance the construction of a 147 MW wind power plant in Volyn region and technical support.
According to information on the IFC website, the total cost of the project is estimated at EUR261 mln (including VAT), the 16-year loan is granted to the established project companies Wind Power Plant Volyn LLC and Wind Power Plant Volyn 3 LLC, which are controlled by GNG Retail Limited and its subsidiary Concern Galnaftogaz (together – GNG Group).
It is indicated that the project involves mixed financing, including from the UK-FCDO and EC-UIF, as well as the Clean Technology Fund.
Earlier, on December 4, participation in the project was also approved by the European Bank for Reconstruction and Development (EBRD), which also signed documents on granting the above-mentioned LLCs a long-term loan of EUR60 million for the construction of a 147 MW wind power plant in Volyn region.
The WPP is expected to generate about 380 GWh (380 million kWh) of zero-carbon renewable electricity annually.
In February 2024, the Antimonopoly Committee of Ukraine (AMCU) authorized GNG Retail Limited (Cyprus) to buy more than 50% in the authorized capitals of Wind Power Group Volyn LLC and Wind Power Group Volyn 3 LLC. According to the data of public registers, GNG Retail Limited owns 89.5% in the two LLCs, while ZNVKIF Rimini JSC (in which Vitaliy Antonov owns 83.19%) – 10.5%.
OKKO CEO Vasyl Danilyak announced the start of work on the construction of a wind power plant in Volyn region in the fall of 2024. He explained the group’s plans to work in the RES sector by the need to diversify its business, as the fuel market is no longer expected to grow.
“Galnaftogaz” operates one of the largest networks of filling stations OKKO, which has more than 400 complexes with a network of catering establishments. The concern also includes other businesses.
Vitaly Antonov’s GNG Retail Limited owns 90.25% of Concern Galnaftogaz. Avalia Investments Limited (Cyprus) of Igor Mazepa, founder and head of Concorde Capital, became the owner of another 7.35% of shares in October 2024.
On December 20, 2024, the International Finance Corporation (IFC) of the World Bank Group signed documents to provide a $53.87 million loan to Concern Galnaftogaz to finance the construction of a 147 MW wind farm in Volyn region and technical support.
According to the IFC website, the total cost of the project is estimated at EUR261 million (including VAT), with a 16-year loan provided to the established project companies Wind Power G&I Volyn LLC and Wind Power G&I Volyn 3 LLC, controlled by GNG Retail Limited and its subsidiary Concern Galnaftogaz (together – GNG Group).
It is noted that the project involves the attraction of mixed financing, in particular from the UK-FCDO and EC-UIF, as well as the Clean Technology Fund.
Earlier, on December 4, participation in the project was also approved by the European Bank for Reconstruction and Development (EBRD), which has also already signed documents to provide the above-mentioned LLCs with a long-term loan of EUR 60 million for the construction of a 147 MW wind farm in the Volyn region.
The wind farm is expected to produce about 380 GWh (380 million kWh) of renewable electricity with zero carbon emissions annually.
In February 2024, the Antimonopoly Committee of Ukraine (AMCU) allowed GNG Retail Limited (Cyprus) to buy more than 50% of the authorized capital of Wind Power G&I Volyn LLC and Wind Power G&I Volyn 3 LLC. According to open registers, GNG Retail Limited owns 89.5% of the two LLCs, and JSC ZNVKIF Rimini (in which Vitaliy Antonov owns 83.19%) owns 10.5%.
OKKO CEO Vasyl Danyliak announced the start of construction of a wind farm in Volyn region in the fall of 2024. He explained the group’s plans to work in the renewable energy sector by the need to diversify its business, as the fuel market no longer foresees growth.
“Galnaftogaz operates one of the largest networks of OKKO filling stations, which includes more than 400 complexes with a network of catering facilities. The group also includes other businesses.
Vitaly Antonov’s GNG Retail Limited owns 90.25% of Concern Galnaftogaz shares. In October 2024, Avalia Investments Limited (Cyprus) of the founder and chairman of Concorde Capital, Igor Mazepa, became the owner of another 7.35% of the shares.
