Naftogaz has transferred UAH 13.3 billion (USD 511.5 million) of 2016 dividends to the state budget. This is the highest dividend payment ever made by a state-owned company in the independent Ukraine.
In addition, Naftogaz paid UAH 2.4 billion (USD 92.3 million) of respective advance corporate tax to the state budget.
According to Naftogaz CEO Andriy Kobolyev, the company’s profit of UAH 26.5 billion (USD 1.019 billion) (non-consolidated) in 2016 was made possible by the three years of consistent reform efforts both in Naftogaz and Ukraine’s energy sector. “Today, we are witnessing the first benefits of the reforms that continue despite heavy resistance. We have proven that the public sector can and must be effective. Rejection of corruption, transparent business procedures compliant with the best international practices, active cooperation with international stakeholders and defending interests of Naftogaz in arbitration – all this has ensured quite positive financial performance,” Andriy Kobolyev noted.
NJSC Naftogaz of Ukraine
