Cherkasyoblenergo to Pay Dividends

On April 11, the shareholders of Cherkasyoblenergo allocated 15 percent of the company’s 2007 net profit, or 4.53 million hryvnias, for a dividend pay-out, according to the press service of NAK Energy Company of Ukraine, Cherkasyoblenergo’s parent company.

The shareholders also decided to invest 80 percent of the net profit, or 24.17 million hryvnias, into the company’s development. The remaining 5 percent, or 1.51 million hryvnias, will be placed into a reserve fund.

In 2007, Cherkasyoblenergo’s net profit soared by 13.81 million hryvnias, or 84.2 percent, to reach 30.21 million hryvnias.

UNIAN reference: VAT Cherkasyoblenergo holds a license for power transfer and power supplies in the Cherkasy region. The company delivers electric power to 595,985 household consumers and 14,415 legal entities, including 771 industrial consumers and 12,464 non-industrial consumers.

Cherkasyoblenergo’s statutory fund amounts to 37.1 million hryvnias.

The Energy Company of Ukraine owns a 71 percent stake in Cherkasyoblenergo: 46 percent directly and 25 percent indirectly, through ZAT UkrESKO. In addition to the Energy Company’s holding, the largest shareholders of Cherkasyoblenergo are Vanair Limited and Grayham Investments, both of which are registered in the British Virgin Islands. They own 12.1 percent and 14.53 percent of the company, respectively.