Cabinet instructs companies with state stake to pay 75% in dividends for 2015

15:14, 30.03.2016 1 min read

Enterprises, in which the state owns or controls a stake, should pay 75% of profit in dividends for 2015.

This is stipulated in cabinet resolution No. 228 dated March 23.

According to the document, an exception was made for Ukrhydroenergo, whose basic norm for dividend payment is set at 30%.

The Cabinet also ordered termination of contracts with the heads of state-controlled enterprises if dividends are not paid by July 1, 2016.

As reported, the Ministry of Economic Development and Trade in October last year proposed keeping a 50% norm of dividend payment for this year and forecast revenues in the amount of UAH 1.665 billion.

According to the State Treasury Service, the national budget for 2015 received UAH 3.01 billion from dividend payments, of which UAH 1.77 billion were dividends paid by Ukrnafta for several years, while dividend proceeds in the 2014 national budget stood at UAH 1.384 billion.