Cabinet of Ministers pushes Ukrnafta and Ukrgaz-Energo to distribute 2006-2007 profits
8 July 2008
The Cabinet of Ministers of Ukraine’s draft bill on amendments to the 2008 state budget includes an item, binding Ukrnafta (UNAF: U/R) and Ukrgaz-Energo to pay dividends for 2006-2007. If the draft bill is passed, both companies will have to approve 2006-2007 dividends by September 1, 2008. Otherwise, according to the ruling, they will have to distribute their entire profit in the two year span proportional to Naftogaz’s stake in these companies. Naftogaz owns 50%+1 of Ukrnafta and 50% of Ukrgaz-Energo.
