State-owned companies must pay 80% of their profits in the form of dividends.

Tuesday, February 6, 2024
State-owned companies must pay 80% of their profits in the form of dividends.

The Cabinet of Ministers reported that the basic norm for deducting the share of profit directed to paying dividends for enterprises whose charter capital includes state corporate rights should be 80% of the results of economic activity in 2023. This also applies to economic enterprises that are majority-owned by enterprises with a 100% state ownership share, mainly subsidiaries.

The government also established the following standard deductions: Naftogaz of Ukraine – 95%; Oschadbank and Ukrainian Financial Housing Company – 30%; Ukrnafta – 30%; it is also provided that 50% of these profits will be directed to capital investments. Also, Ukrainian Danube Shipping will pay 30%, on the condition that 50% of its profit is directed to improving its fleet and developing the production capacities at the Kili Shipyard; Ukrainian Railways – 50%, provided that 30% of its profit will be directed to capital investments.

The state budget for 2024 expects to receive over ₴66B in net profit and dividends from state-owned enterprises.

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