Naftogaz transfers over US$768 mln in dividends for 2017 to national budget as of Dec 6

National Joint-Stock Company Naftogaz of Ukraine as of December 6 has already transferred UAH 21.5 billion (US$768.4 million) in dividends for 2017 to the national budget out of UAH 29.4 billion ($1 million) scheduled to be transferred in 2018.

Read alsoGazprom's debt to Naftogaz grows to US$2.7 bln

"As of December 6, 2018, the company paid over UAH 21.5 billion in dividends out of UAH 29.4 billion planned for this year. Naftogaz has to pay the remaining UAH 7.9 billion [$282.3 million] by December 25, 2018," the company said in a statement on December 7.

In November alone, Naftogaz channeled UAH 8.1 billion ($289 million) in dividends into the national budget in accordance with the schedule approved by the Cabinet of Ministers of Ukraine.

According to the government's orders, Naftogaz's dividends to be channeled in 2018 account for 75% of the company's net profit generated in 2017, the report said.

In 2017, Naftogaz paid UAH 13.3 billion ($475.3 million) in dividends, which was equal to 50% of the company's net profit posted in 2016.

As UNIAN reported earlier, Naftogaz in 2017 increased its net profit by 48% against 2016, to UAH 39.3 billion ($1.4 billion).

UNIAN memo. NJSC Naftogaz of Ukraine is the largest state-run vertically integrated oil and gas holding whose subsidiaries account for about 90% of oil and gas production in Ukraine. Naftogaz develops oil and gas fields, produces crude oil and natural gas. Its core business is also transportation and trade in fuel through its own network of filling stations.