REUTERS
The company plans to use 5% of profits to replenish its reserve capital, while 95% will be left undistributed.
PJSC Kyiv Roshen Confectionary Factory, part of Ukraine's Roshen Confectionery Corporation, in 2018 posted UAH 11.1 million (US$ 411,111) in net profit, which was four times up from 2017.
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The company has decided to use 5% of profits to replenish its reserve capital, while 95% will be left undistributed, according to the company's announcement of its shareholders' meeting scheduled for March 26 and posted in the National Securities and Stock Market Commission's information disclosure system.
At the same time, Kyiv Roshen Confectionary Factory does not plan to pay dividends for 2018.
In addition, the shareholders are expected to consider the increase in the company's charter capital by UAH 330 million ($12.2 million) to UAH 505.8 million ($18.7 million) through an additional non-public issue of 1.32 billion common unregistered shares with a face value of UAH 0.25 each.
UNIAN memo. Roshen Corporation is one of the largest Ukrainian confectionery manufacturers, producing 450,000 tonnes of confectionery per year.
Roshen includes one factory in Kyiv, two production sites in Vinnytsa, one factory in Kremenchuk (Ukraine), two production sites at Lipetsk confectionery factory (Russia), Klaipeda confectionery factory (Lithuania), Bonbonetti Choco Kft (Budapest, Hungary), as well as Bershadmoloko butter and milk factory, which supplies raw milk to the corporation's factories.