Ukrainian Railways pays 1.26 billion hryvni in dividends for 2023 in advance

MOSCOW. Feb 28 (Interfax) - The state-owned JSC Ukrainian Railways (UZ) has transferred 1.259 billion hryvni to the state budget of Ukraine as an advance payment of dividends from the results of its economic activities in 2023, Ukrainian media outlets said with a reference to the UZ press service on Wednesday.

"It is our first payment in advance, we're finalizing a consolidated report which will clearly determine our income following our work in 2023," Ukrainian Railways board chairman Yevgeny Lyashchenko said.

According to an order of the government, the standard of deductions for Ukrainian Railways is set at 50% provided that 30% of income would be directed towards the financing of capital investments approved in the financial plan for 2024, as well as the reconstruction of the critical railway infrastructure and the rolling stock renewal, the UZ press service said.

As reported, on February 27, the government of Ukraine instructed Naftogaz of Ukraine, Ukrainian Railways, Ukrhydroenergo, Ukrainian Energy Machines, Nizhnednestrovakaya HPP, and JSC Ukrainian Defense Industry to pay at least 50% of the 2023 annual dividends to the state budget by February 29. According to the Finance Ministry, it would bring three billion hryvni to the national budget in February.