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Naftogaz does not need dividends from Ukrnafta

Naftogaz does not need dividends from Ukrnafta

31 May 2012

Naftogaz’ (NAFTO) CEO, Yevhen Bakulin said there is no plan to hold an AGM for Ukrnafta (UNAF UK), in which Naftogaz holds a majority stake, any time soon. Bakulin said dividends that the holding might receive from Ukrnafa was not a priority.

Alexander Paraschiy: Bakulin’s statement looks slightly disappointing for minorities of Ukrnafta, who are used to seeing hefty dividend payouts. Ukrnafta posted EPS of UAH 40 in 2011 – if the income is fully distributed as dividends, it would correspond to a yield of 21%.

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