You're reading: Kyivmiskbud to allocate 40 percent of net profit for 2014 to pay dividends

Public joint-stock company Kyivmiskbud Holding (Kyiv), one of the largest property developers in Ukraine, will allocate Hr 29.559 million to pay dividends for 2014, which is 40 percent of its net profit.

The decision was made by the company’s shareholders with 99.98 percent votes in favor at an extraordinary general meeting held in Kyiv on July 31.

The shareholders also decided to allocate Hr 34.36 million to the production development fund and Hr 10 million to the reserve fund.

Dividends will be paid between Nov. 30, 2015 and Jan. 30, 2016.

As reported, Kyivmiskbud Holding postponed the decision to pay dividends for 2014 until an extraordinary general meeting of shareholders was held on April 30, 2015 to discuss the increase of the sum of dividend payments via an increase of the sum of dividends to 30 percent of net profit.

The shareholders supported the proposal of a representative of the territorial community of Kyiv as the owner of 80 percent of shares in Kyivmiskbud, the director of municipal ownership department of Kyiv City Administration, Andriy Huz.

Kyivmiskbud was set up on the basis of municipally owned construction corporation Kyivmiskbud in 1994 through the merger of controlling stakes in 28 enterprises and other assets in its charter capital. It consists of 40 companies in which the holding owns shares, along with six subsidiaries and 51 associated members.