On Feb. 5, the Cabinet of Ministers set the basic dividend pay-out ratio for SOEs at 80%, but SOEs can choose to pay higher dividends. According to Oleksii Sobolev, Deputy Economy Minister, the 2024 state budget expects total dividends from SOEs to be more than Hr 66 billion ($1.7 billion). As we wrote in Issue 115, Naftogaz Group paid over Hr 90 billion ($2.4 billion) in taxes in 2023.
Cabinet completes the composition of Naftogaz’s supervisory board. This completes the board, Naftogaz said. Marievich had already served as a state representative on Naftogaz’s supervisory board from June 26-Sept. 11, 2019 when his powers were terminated early.
Oschadbank and Ukreximbank had no supervisory boards for almost seven months. As we reported in December 2023 (see Issue 113), even though the Cabinet of Ministers appointed the new independent members of Ukreximbank’s supervisory board on May 30, the same ordinance appears to have blocked the board’s work. Under the ordinance, independent members serve for three years from the date on which all independent members officially assume their roles.
Ukreximbank has been operating without a supervisory board for over six months. Despite the fact the Cabinet of Ministers appointed the new independent members of Ukreximbank’s supervisory board on May 30, the same ordinance of the Cabinet appears to have blocked the board’s work. According to that ordinance, independent members serve for three years from the date on which all independent members officially assume their roles.