The National Bank of Ukraine in 2016 seeks to satisfy entire demand on dividends for 2014-2015 that are to be returned abroad to foreign investors, NBU Governor Valeriya Gontareva said at a press conference in Kyiv on May 27.
“We are processing information from banks on the accumulated dividends. These are dividends for 2014-2015. We do not see large sums, as these were not the most profit-making years for business. We hope that we will be able to satisfy entire demand this year,” she said.
The NBU asked banks to work with clients to find out their plans regarding the return of dividends abroad and by May 20 to present the required information to the regulator. This is done as part of preparations for revoking of a ban on repatriation of dividends.
The NBU would design a dividend repatriation schedule.
The central bank intends to announce the schedule after the completion of the second revision of the Extended Fund Facility (EFF) with the International Monetary Fund (IMF).
