Naftogaz to allocate $354 mln in dividends and taxes on dividends to govt budget for 2023

MOSCOW. June 24 (Interfax) - NJSC Naftogaz of Ukraine plans to pay out nearly UAH 12.2 billion in dividends to the Ukrainian government budget based on the operating results for 2023, as well as UAH 2.1 billion in tax on dividends [totaling around $354 million at the current exchange rate], Ukrainian media reported, citing a statement on the group's website.

"The Naftogaz Group has become profitable (...). And this is despite the fact that we fulfilled all the obligations imposed on us by the state and supplied gas at a social price to household consumers, heat and electricity producers, and budgetary and religious organizations in 2023," CEO Alexei Chernyshov was quoted as saying in the statement.

NJSC Naftogaz of Ukraine is required to pay out dividends no later than July 30, 2024, as per the order of the Cabinet of Ministers of Ukraine dated June 21, 2024.

As previously reported, Naftogaz swung to net consolidated profit of UAH 23.1 billion in 2023 from a net loss of UAH 79.1 billion the previous year.

Naftogaz unites the largest oil and gas producing enterprises in Ukraine. The group is a monopoly for storing natural gas in underground storage facilities and transporting oil by pipeline across the country.

The official exchange rate as on June 24, 2024, is UAH 40.45/$1.