Ukrainian Railways to pay Ukrainian state budget $38 mln in dividends for 2023

MOSCOW. May 6 (Interfax) - Ukrainian Railways (Ukrzaliznytsia) will pay dividends to the state budget of 1.513 billion hryvnia ($38.4 million at the current exchange rate) for 2023, Ukrainian media reported, citing the Cabinet of Ministers of Ukraine.

In addition, UAH 2.522 billion from the net profit for 2023 will be used to finance capital investments, reconstruction of critical infrastructure and renewal of rolling stock. Another UAH 1.008 billion will go toward financing the transportation of concrete and reinforced concrete structures for the construction of defense engineering and fortification structures.

Earlier, Ukrainian Railways reported that it received a net profit of UAH 5 billion in 2023. At the same time, in February, the company paid UAH 1.26 billion in advance dividends for 2023.

By order of the Ukrainian government, the standard for dividend payments to the state budget for Ukrainian Railways is set at 50%, provided that 30% of net profit goes to finance the capital investments approved in the financial plan for 2024, as well as for the reconstruction of critical railway infrastructure and the renewal of rolling stock.

The standard deductions to the budget of profits allocated for paying dividends based on the results of 2023 for most Ukrainian state-owned companies is set at 80%.

The official exchange rate as of May 6 is 39.4 UAH/$1.