Business news from Ukraine

UKRAINE’S LARGEST GAS PRODUCER WILL PAY ABOUT USD 600 MLN DIVIDENDS TO NAFTOGAZ

PJSC Ukrgazvydobuvannia will pay dividends to its sole shareholder Naftogaz Ukrainy from August 22 to August 30, 2018, Ukrgazvydobuvannia reported in the information disclosure system of the National Commission on Securities and the Stock Market. Payments will be made in accordance with the decision of Naftogaz dated August 3. As reported, Ukrgazvydobuvannia in 2017 increased its net profit by 2.6 times (by UAH 18.553 billion) compared to 2016, to UAH 30.473 billion, net income by 36.4% (by UAH 20.051 billion), to UAH 75.092 billion, gross profit by 2.2 times (UAH 23.057 billion), to UAH 42.062 billion.
Ukrgazvydobuvannia, 100% owned by Naftogaz Ukrainy, is the country’s largest gas producer, which provides about 75% of the total gas production in the country.

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STATE-OWNED UKREXIMBANK SENDS UAH 588 MLN TO PAY DIVIDENDS

State-owned Ukreximbank (Kyiv) has sent part of its net profit for 2017 in the amount of UAH 588 million to pay dividends to the national budget of Ukraine.
The payment was made in line with the requirements of the law on the management of state-owned entities and government resolution No. 139 dated February 28, 2018 on the approval of the basic requirement for sending part of profit sent to pay dividends by companies where the state holds shares for 2017.
The requirement for Ukreximbank is 75% of net profit for 2017.
Ukreximbank was founded in 1992. Its sole owner is the state.
The bank ranked third among 84 banks operating in the country as of January 1, 2018 in terms of assets (UAH 171.011 billion), according to the National Bank of Ukraine.

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CREDIT AGRICOLE BANK DECIDES TO PAY DIVIDENDS IN UKRAINE

Credit Agricole Bank (Kyiv) has decided to pay UAH 428.025 million of dividends ($16.36 under the exchange rate of the National Bank of Ukraine (NBU) as of the date when the decision was made), including UAH 700 for privileged shares.
The bank reported in the information disclosure system of the National Commission for Securities and the Stock Market, the decision was approved at a general meeting of the bank’s shareholders held on June 7.
UAH 0.35 will be paid per ordinary and privileged share.
The list of holders of privileged shares was made on January 31, 2018 and that for ordinary shareholders the list will be approved on June 22, 2018.
Payment of dividends for privileged shares started on June 8 and for ordinary shares it will start on June 23, 2018, but no earlier than the full payment to the holders of privileged shares.
Credit Agricole Bank was founded in 1993. Credit Agricole S.A. on January 1, 2018 owned a 99.9961% stake in PJSC Credit Agricole Bank.

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OTIS TO SEND ALL PROFIT OF UAH 18.8 MLN TO PAY DIVIDENDS

Private joint-stock company Otis (Kyiv) plans to send all net profit for 2017 to pay dividends – UAH 18.835 million or UAH 27.98 per share.
The company reported that the issue will be discussed at an extraordinary general meeting of its shareholders scheduled for June 4, 2018.
ОТІS Investments L.L.C. (Wilmington, Delaware, the United States) would receive UAH 18.411 million and Liftovyk Society LLC – UAH 424,056.
In 2017, Otis cut net profit by 63% in 2017, to UAH 18.834 million and revenue fell by 35.8%, to UAH 477.87 million.

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TAS INSURER WILL PAY UAH 44 MLN OF DIVIDENDS

TAS Insurance Company (Kyiv) will pay UAH 44.7 million in dividends for 2017.
This decision was made at a shareholders’ meeting on April 30.
Dividends will be paid within six months from the date of making the decision. Payment will be made in three tranches: UAH 15.789 million, UAH 15.789 million, and UAH 13.138 million.
As reported, the retained earnings of TAS for the past year amounted to UAH 47.01 million, of which UAH 2.353 million will be used to replenish reserves, and UAH 44.7 million to pay dividends.
As reported, the company in 2016 paid UAH 16.845 million in dividends, in 2015 some UAH 10 million.
The ultimate beneficiary of TAS Insurance Company is ex-Deputy Prime Minister Sergiy Tigipko, the founder of TAS Group, which includes TAS Insurance Company and TAS Insurance Group.
PrJSC TAS Insurance Company has been operating in the Ukrainian market since 2000. It specializes in life insurance.
The charter capital of the insurer is UAH 93.322 million.

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INSURER INGO UKRAINE WILL PAY UAH 26 MLN IN DIVIDENDS

The shareholders of INGO Ukraine insurance company (Kyiv) at a meeting on April 26 made a decision to pay dividends in the amount of UAH 26.148 million, according to the official information of the insurer. Money is paid directly to non-resident shareholders in U.S. dollars at the NBU rate on the day of payment, to residents in the national currency. Payment is made in the amount of UAH 85.58 per share.
INGO Ukraine has more than 20 years of experience in the market. It has 28 licenses for various types of compulsory and voluntary insurance, provides insurance services to corporate and retail customers. The INGO Ukraine team is more than 500 employees in 25 branches operating in all regions of Ukraine.
The IBI-Rating agency confirmed the company’s long-term credit rating at the level of uaAA for 2017, the forecast is “stable” on the national scale.
The main shareholder of the company since 2017 has been the Ukrainian business group DevelopmentConstruction Holding (DCH) with a 99.99% share.

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