Naftogaz pays 95% of 2019 profits to state budget

Naftogaz has transferred UAH 48.125 billion to Ukraine’s state budget

Naftogaz has transferred UAH 48.125 billion to Ukraine’s state budget.

This is a record high dividend received by the Ukrainian state budget from a state-owned enterprise.

The amount is 2.4 times higher that the Naftogaz dividend paid for 2018.

Naftogaz paid UAH 8.5 billion of the sum in advance at the end of 2019 at the request of the government, which enabled urgent payments from the state budget that were at risk due to insufficient revenues.

In line with government policy, dividend payments equal 95% of Naftogaz net profits generated in 2019.

“Naftogaz Group has been Ukraine’s biggest contributor to the state budget for the past several years. The current decrease in gas prices makes generating revenues for the state budget an even more difficult task. Meanwhile, Ukrainian consumers are benefiting from lower gas and heating bills. The reforms we are currently implementing at Naftogaz aim at create more value for the people of Ukraine,” commented Naftogaz CEO Andriy Kobolyev on the dividends paid by the company.

Naftogaz contributed almost UAH 75 billion in taxes and dividends to the state budget in the first six months of the current year. Revenues from Naftogaz to the state exceeded the compensation paid by Gazprom to the company under the Stockholm arbitration award.

Dividend payments for 2019 were made pursuant to the CMU Order #1339-р of 26 December 2019, Resolution #328 of 24 April 2020 and Order #655-р of 10 June 2020 amended on 25 June 2020.

Communications Department
NJSC Naftogaz of Ukraine

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