Business news from Ukraine

KERNEL STARTS TO PAY DIVIDENDS FOR FY2021

Kernel, one of the largest Ukrainian agrarian groups, will begin paying dividends for FY2021 (July – June) from February 15, payments will be $0.44 per share, which is $0.02 per share more than in FY2020.
According to the company’s statement on the Warsaw Stock Exchange on Tuesday evening, the decision on the payment of dividends and their amount was made by the shareholders at the general meeting held on December 10, 2021, while on January 4, its board of directors determined the payment date.
In total, $36.97 million will be allocated for the payment of dividends.
Kernel’s current share price is PLN 57.1 (2.7% less) over the week, while over the year it increased by 15.7% from PLN 49.35.
As reported, the agricultural holding paid $35.3 million in dividends for FY2020 on January 14, 2021 at the rate of $0.42 per share.
On April 30, 2020, the group of companies paid out $20.5 million in dividends for FY2019 in the amount of $0.25 per share, similar to FY2018.
Kernel is a manufacturer and exporter of sunflower oil, operating in the production, export and domestic sales of sunflower oil, crop production, export of grain crops, provision of services for storage and transshipment of grain at elevators and port terminals.

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METINVEST AND OTHER COMPANIES OF THIS GROUP PLAN TO ALLOCATE MORE THAN UAH 20 BLN FOR PAYMENT OF DIVIDENDS

PrJSC Mariupol-based Illich Iron and Steel Works (Donetsk region), part of Metinvest Group, will allocate UAH 11.004 billion for the payment of dividends from retained earnings, Azovstal, also part of Group – UAH 7.718 billion, and PrJSC Dniprovsky Coke and Chemical Plant (Kamianske, Dnipropetrovsk region), part of Metinvest, – UAH 1.774 billion.
According to the official statements of the companies in the information disclosure system of the National Securities and Stock Market Commission, the sole shareholder of the three companies made decisions on the payment of dividends at the extraordinary shareholders’ meetings held on September 13, and on September 14 the companies decided to set the date for compiling the list of persons entitled to receive dividends – September 29, 2021.
Earlier it was reported about similar decisions of PrJSC Avdiyivka Coke and Chemical Plant on the direction of UAH 2.365 billion to dividends, and PrJSC Zaporizhkoks – UAH 3.867 billion.
Thus, a total of five Metinvest enterprises will allocate UAH 26.7 billion for dividend payments.

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STATE-CONTROLLED PRIVATBANK TRANSFERS 19.4 BLN DIVIDENDS TO STATE

State-controlled PrivatBank (Kyiv) paid 80%, or UAH 19.4 billion, of profits for 2020 to the state budget, the bank’s press service has said.
According to the report, over the past three years, PrivatBank has directed UAH 55.4 billion to the state budget.
As reported, on April 28, the Cabinet of Ministers approved the distribution of the bank’s profits for 2020. In particular, in addition to paying dividends, the government allocated UAH 3.645 billion (15%) to cover the accumulated losses of previous years, and UAH 1.215 billion (5%) to the reserve fund.
On December 18, 2016, the government of Ukraine, referring to the proposal of the National Bank and the former shareholders of PrivatBank, decided to nationalize this largest financial institution on the Ukrainian market and injected over UAH 155 billion into its capital.
According to statistics from the National Bank of Ukraine, as of March 1, 2021, in terms of total assets (UAH 561.062 billion) PrivatBank ranked first among 73 banks operating in the country.

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PRIVATBANK TO PAY UAH 19.4 BLN IN DIVIDENDS TO STATE

The Cabinet of Ministers has approved the distribution of UAH 24.3 billion of net profit of the state PrivatBank (Kyiv) for 2020, in particular, UAH 19.4 billion (80%) will be allocated to pay dividends to the state budget, and UAH 3.645 billion to cover the accumulated losses of previous years (15%), and to the reserve fund – UAH 1.215 billion (5%).
The corresponding order was approved by the government on April 28.
As reported, at the end of April 2020, the Cabinet of Ministers approved the standard for the deduction of part of the profit to the state budget for state-owned companies at the level of 50%, with the clarification that it can also be set individually.

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JTI UKRAINE TO PAY UAH 312 MLN IN DIVIDENDS FOR 2018-2019

PJSC JT International Company Ukraine, one of the largest tobacco companies in Ukraine, plans to allocate UAH 311.76 million to pay dividends to shareholders for 2018-2019.
According to the company’s statement in the information disclosure system of the National Securities and Stock Market Commission on Tuesday, the shareholders intend to approve the payment of dividends at an extraordinary general meeting scheduled for November 26.
“The retained earnings of the company, formed as a result of activities in 2018 in the amount of UAH 32.05 million, are planned to be distributed as follows: a part of the profit in the amount of UAH 32.05 million will be used to pay dividends to the company’s shareholders, UAH 32.23 per one ordinary registered share,” the company said.
In addition, it is proposed that the retained earnings of JT International Company Ukraine for 2019 in the amount of UAH 279.71 million be partially allocated for the payment of dividends to shareholders – UAH 279.7 million, UAH 281.26per ordinary registered share of the company.
The total number of shares as of November 20, 2020 (as of the date of compiling the list of persons who are notified of the general meeting) is 994,457 common registered shares.
JT International Company Ukraine is part of the Japan Tobacco Inc. group of companies (JTI). In Ukraine, it owns the Kremenchuk tobacco factory (Poltava region).

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RAIFFEISEN BANK AVAL WILL PAY UAH 4.27 BLN IN DIVIDENDS IN UKRAINE

The shareholders of Raiffeisen Bank Aval (Kyiv) at a meeting on September 11 decided to pay dividends to the holders of common shares following the results of the financial institution’s work in 2019 in the amount of UAH 4.274 billion (90% of profit), while last year the bank accrued UAH 3.561 billion, and a year earlier UAH 4.244 billion.
According to the bank’s report in the information disclosure system of the National Securities and Stock Market Commission, the bank will also send UAH 700,000 (0.01% of profit) to pay dividends to the holders of preferred shares.
The chosen procedure of settlement with the shareholders provides for the payment of dividends in full, the report says.
Raiffeisen Bank Aval was founded in 1992. The largest shareholders are Raiffeisen Bank International with 68.28% and EBRD with 30%.
According to the NBU, as of August 1, 2020, in terms of total assets (UAH 104.172 billion) Raiffeisen Bank Aval ranked fifth among 75 banks operating in the country.

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