PrivatBank / REUTERS
PrivatBank may be obliged to channel up to 75% of its profit into the payment of dividends.
Ukraine's Cabinet of Ministers will develop a draft resolution to approve basic standards for dividends to be paid for 2019 from net profit of enterprises whose charter capital includes the corporate rights of the state, namely PrivatBank and NJSC Naftogaz of Ukraine.
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In particular, the Cabinet was given this task at a government meeting on April 22, following the relevant request of Ukrainian Minister for Development of Economy, Trade and Agriculture Ihor Petrashko.
"To develop and submit for consideration by the Cabinet of Ministers a draft government resolution to approve a basic rate of deducting part of profit for payment of dividends following the 2019 results of financial and economic activities of companies whose charter capital includes the corporate rights of the state," Petrashko said.
Ukraine's Finance Minister Serhiy Marchenko says it is proposed that the basic rate for PrivatBank be set at 75%, while that for Naftogaz should be 95%.
As UNIAN reported earlier, in April 2019, the Cabinet of Ministers increased the share of state enterprises' net profit to be channeled into the 2019 national budget from 75% to 90%.
In July, Naftogaz in court challenged its obligation to pay 90% of the 2018 profit as dividends to the national budget.