Naftogaz proposes not to pay dividends from Ukrnafta’s profit of 6.6 billion UAH

Naftogaz of Ukraine proposed to include on the agenda of the shareholders meeting of PJSC Ukrnafta the issue of refusing to accrue dividends from the net profit received in 2018 in the amount of 6.6 billion UAH.

Naftogaz proposed to make the appropriate decision on the agenda of the planned meeting of shareholders of Ukrnafta, which is scheduled for April 25, 2019.

"In connection with the presence of a significant debt of the company on taxes and fees, dividends are not charged", the document says.

Recall, PJSC Ukrnafta has scheduled a meeting on April 25, 2019, at which one of the issues will be the distribution of profits for 2018. The company offered the only option for the distribution of profits: 50% as dividends to pay to shareholders of the company, the other funds to direct to the company's own needs.

Acording to 2018 results, Ukrnafta in the financial statements reflected a net profit of 6.628 billion UAH. This figure is not confirmed by the audit report, and the calculation of the amount of dividends will be made from the profit, which will be confirmed by the conclusion of auditors.

Shareholders planned to consider paying dividends, despite the fact that the company had unsettled tax debt. Ukrnafta itself recognizes a debt of 10.6 billion UAH, excluding fines, penalties and interest. The total amount of debt, according to the NJSC Naftogaz of Ukraine, exceeds 32 billion UAH.

Source: biz.censor

Tags: Naftogaz, contracts, oil, Ukrnafta

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