REUTERS
The government allowed Naftogaz to pay only 35% of its net profit before July 1, with further payment of the remaining 40% by the end of the year.
National Joint-Stock Company Naftogaz of Ukraine in 2018 paid dividends for 2017 to the national budget in line with the schedule that was agreed with the government.
Read alsoNaftogaz pays UAH 5.8 bln in taxes in January
"In 2018, Naftogaz paid dividends according to the schedule agreed by the Cabinet of Ministers," the company's press service said on February 13.
The government allowed Naftogaz to pay not all dividends, but only 35% of its net profit before July 1, with further payment of the remaining 40% by the end of the year, the report said.
As was earlier reported, Ukraine's Economic Development and Trade Ministry had imposed a UAH 2.4 billion ($88.9 million) fine upon Naftogaz for late payments of dividends for 2017.
The ministry insists that under the law, all dividends must be paid before July 1.
Naftogaz in 2018 paid UAH 136.5 billion (US$5.1 billion) in taxes and dividends to the national budget, which was almost a third more than in 2017.
The company in 2017 boosted its net profit by 48% from 2016, to UAH 39.3 billion ($1.5 billion). In 2016, Naftogaz posted UAH 26.5 billion ($981.1 million) in net profit, whereas it was in the red in 2015 with UAH 27.7 billion ($1 billion) in net loss.
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.