Business news from Ukraine

“Ukrzaliznytsia” has paid UAH 1.26 bln in dividends for 2023 in advance

2 March , 2024  

State-owned JSC Ukrzaliznytsia (UZ) has transferred UAH 1.259 billion to the state budget of Ukraine as an advance payment of dividends based on the results of its business activities in 2023, the press service of UZ reported on Wednesday.

“This is the first advance payment, because we are still finalizing the consolidated report, which will clearly determine our profit based on the results of work in 2023,” said Yevhen Lyashchenko, Chairman of the Board of UZ.

It is noted that, according to the government’s decree, the rate of deductions for Ukrzaliznytsia is set at 50%, provided that 30% of the profit will be used to finance capital investments approved in the financial plan for 2024, as well as to reconstruct critical railway infrastructure and renew rolling stock.

As reported, on February 27, the government instructed Naftogaz of Ukraine, Ukrzaliznytsia, Ukrhydroenergo, Ukrainian Energy Machines, Nizhnednistrovska HPP, and Ukrainian Defense Industry to transfer to the state budget at least 50% of the annual dividends on the state share for 2023 in advance by March. According to the Ministry of Finance, this will allow the state budget to receive at least UAH 3 billion in February.