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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of May 12, 2007 No. 702

About approval of the Procedure for forming and realization of dividend policy of the state

(as amended on 18-08-2021)

According to articles 5-2 and 11 of the Law of Ukraine "About management of objects of state-owned property" the Cabinet of Ministers of Ukraine decides:

1. Approve the Procedure for forming and realization of dividend policy of the state (further - the Procedure) which is applied.

2. To heads of subjects of management of corporate laws which belong to the state in authorized capitals of the economic organizations to provide realization of dividend policy and receipt in the government budget of dividends it agrees to the Procedure approved by this resolution.

3. To the Ministry of Economics to perform monitoring of payment of dividends by the economic organizations by subjects of management of corporate laws which belong to the state in authorized capitals of these organizations, and monthly to the 15th to provide to the Ministry of Finance by areas and the economic organizations information on amounts of receipt of dividends as of 1 date which comes behind the accounting period.

Prime Minister of Ukraine

V. Yanukovych

Approved by the Resolution of the Cabinet of Ministers of Ukraine of May 12, 2007 No. 702

Procedure for forming and realization of dividend policy of the state

1. This Procedure determines the mechanism of forming of Ministry of Economics together with the Ministry of Finance of dividend policy of the state, its realization by subjects of management of corporate laws which belong to the state in the authorized capital of the economic organizations (further - subjects of management of corporate laws of the state).

2. Action of this Procedure extends to all economic organizations with the state share in the authorized capital, and also to economic societies, 50 and more percent of shares (share, shares) which belong to economic societies, the state share in which authorized capital constitutes 100 percent, including on affiliated enterprises.

3. The Ministry of Economics performs monitoring of payment status of the dividends added on the state share (further - dividends) the economic organizations, by subjects of management of corporate laws of the state and submits monthly to the 15th to the Ministry of Finance information on amounts of receipt of dividends in the accounting period by subjects of management of corporate laws of the state, areas, the economic organizations with indication of their state share condition on the first day of every month.

4. Subjects of management of corporate laws of the state give annually till March 15 on the basis of the approved financial plans the current year Ministry of Economics in the form established by it information on summary indicators of the expected amounts of general net profit and dividends of each economic organization with indication of the size of the state share which functions on management of corporate laws are performed by such subjects.

5. Taking into account industry features, type of economic activity and amount of the profit got by the economic organizations for last years based on the indicators provided by the government budget and the main directions of the budget policy for the next budget period and forecast and program documents of economic and social development subjects of management of corporate laws of the state annually till March 20 prepare and submit to Ministry of Economics proposals concerning establishment of basic standard rates of profit share which goes for dividend payout by results of financial and economic activities of the economic organizations in the current financial year.

6. Basic standard rates of profit share which goes for dividend payout by results of financial and economic activities of the economic organizations in the current financial year constitute at least than 30 percent of net profit.

7. The Ministry of Economics submits annually till May 20 to the Ministry of Finance information on the amounts of receipt of dividends expected next year to the government budget.

8. Basic standard rates of profit share which goes for dividend payout by results of financial and economic activities of the economic organizations in the current financial year affirm annually the Cabinet of Ministers of Ukraine on representation of Ministry of Economics and are led up to permission of subjects of management of corporate laws of the state.

9. Subjects of management corporate provide with the rights of the state according to the approved basic standard rates of profit share which goes for dividend payout by results of financial and economic activities of the economic organizations in the current financial year, realization of dividend policy of the state by implementation of actions concerning acceptance within corporate laws of the state of decisions on determination of the size, procedure and payment due dates of dividends by the economic organizations according to their constituent documents and the legislation.

10. Subjects of management of corporate laws of the state submit monthly to the 5th of Ministry of Economics in the form established by it summarized information on charge and transfer of dividends current budget year, and also information on each economic organization concerning which such subjects perform functions on management of corporate laws of the state.

11. The treasury submits to Ministry of Economics information on receipt of dividends in accordance with the established procedure.

 

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