KYIV, September 25 – Ukraine’s leading oil and gas company Ukrnafta said on Monday it would pay Hr 0.55 ($0.10) per ordinary share in dividends on 1999 results with payout starting in January 1, 2001.
Volodymyr Timonin, head of Ukrnafta privatization department, told Reuters the company would channel a total of Hr 42.476 million to pay dividends on 1999 results.
“There are 54,228,510 shares, and it would make about Hr 0.55 per share after taxes,” said Timonin. The nominal value of one share is Hr 0.25. There are no preference shares.
Ukrnafta paid Hr 46.6 million on dividends on 1998 results.
The state has a controlling 50 percent plus one share stake in the company share, while private shareholders hold around 49 percent of Ukrnafta’s shares.
Timonin said Ukrnafta’s shareholders meeting last week approved a plan to channel Hr 71.6 million to pay dividends in 2000.
The company, which accounts for over 90 percent of Ukraine’s domestic oil output, expects its net profits to grow to around Hr 927 million in 2000 from Hr 430 million in 1999 due to higher oil prices, company officials had said.
Ukrnafta, listed on the first tier of the PFTS electronic share trading system, eased to Hr 22.029 per share on Monday from Hr 22.191 on Friday.
