Public joint-stock company Kyivmiskbud Holding (Kyiv), one of the largest property developers in Ukraine, will allocate UAH 29.559 million to pay dividends for 2014, which is 40% of its net profit.

The decision was made by the company's shareholders with 99.98% votes in favor at an extraordinary general meeting held in Kyiv on Friday.

The shareholders also decided to allocate UAH 34.36 million to the production development fund and UAH 10 million to the reserve fund.

Dividends will be paid between November 30, 2015 and January 30, 2016.

As reported, Kyivmiskbud Holding postponed the decision to pay dividends for 2014 until an extraordinary general meeting of shareholders was held on April 30, 2015 to discuss the increase of the sum of dividend payments via an increase of the sum of dividends to 30% of net profit.

The shareholders supported the proposal of a representative of the territorial community of Kyiv as the owner of 80% of shares in Kyivmiskbud, the director of municipal ownership department of Kyiv City Administration, Andriy Huz.

Kyivmiskbud was set up on the basis of municipally owned construction corporation Kyivmiskbud in 1994 through the merger of controlling stakes in 28 enterprises and other assets in its charter capital. It consists of 40 companies in which the holding owns shares, along with six subsidiaries and 51 associated members.