Kernel Group shareholders at a general meeting held on April 10 approved the payment of dividends for FY2014 (July 2013 – June 2014) in the amount of $0.25 per share, according to a post on the Warsaw Stock Exchange (WSE).

The dividends will be payable on April 30, 2015 in U.S. dollars to registered shareholders at the close of business on April 23, 2015. The dividend payment will be subject to the deduction of the Luxembourg withholding tax of 15%.

As reported, Kernel saw net loss of $98.3 million in FY2014 compared to net profit of $111.6 million in FY2013. Revenue fell by 14.4%, to $2.393 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) were down by 22.4%, to $223 million.

Kernel is a vertically integrated company that has been operating in Ukraine's agribusiness sector since 1994. The group produces sugar and sunflower oil, distributes bottled oil under the brand names Schedry Dar, Stozhar and Chumak Zolota, exports oil and grain, and provides elevator storage services for grain and oilseeds.