Businesses withdraw from Ukraine $1.8 bln in dividends to foreign investors in 2017

"According to operational data, the volume of repatriation of dividends was at $1.8 billion, which is slightly more than we expected. We saw an increased repatriation at the end of the year, perhaps because we allowed the repatriation of dividends [that came] before 2014. Perhaps the companies started to deduce dividends more actively at the end of the year, but on in general, we see no problem in the fact that the amount was more than we expected," Churii told one of the Ukrainian radio stations.

He noted that the repatriation of dividends is one of the main directions of the NBU’s monetary liberalization, and that the regulator plans to increase the repatriation limit for businesses, which now amounts to $5 million a month.

"We need to assess the possible outflow of foreign currency and the impact of this outflow on the foreign exchange market. In the near future we will submit inquiries to banks regarding the will of their clients to repatriate dividends for 2017. After we collect the information, we will make an assessment, and go on with liberalization based on those data," said the deputy head of the NBU.

Read alsoNaftogaz pays $3.8 bln in taxes, dividends to budget in 2017As UNIAN reported earlier, the National Bank of Ukraine in June 2016 allowed the repatriation of dividends accrued to foreign investors for 2014-2015, setting a monthly limit on the transfer of such dividends abroad per person within the larger of the values – in the equivalent of $1 million, or 10% of the total amount of dividends payable.

In May 2017, the NBU allowed businesses to pay dividends to foreign investors for 2014-2016, while the maximum amount of relevant transfers abroad was increased 5-fold - to $5 million within a month.