"United Mining and Chemical Company" | News | UMCC again pays record high dividends

UMCC again pays record high dividends
UMCC again pays record high dividends

27.06.2018

On June 26, PJSC United Mining and Chemical Company paid UAH 332.6 million to the national budget as dividends for the year 2017, having set a new own record
This is the second record set by the company. Last year, it paid UAH 321.8 million as dividends for 2016, which was a historic event for Public Joint-Stock Company United Mining and Chemical Company.
Oleksandr Gladushko, Acting Chairman of the Board of PJSC UMCC, believes that such a substantial contribution once again confirms that the company maintains the status of the national budget donor and is an influential budget-revenue generating employer in the regions, where PJSC UMCC's subsidiaries operate.
“Our company has been a socially responsible taxpayer for four years, increasing payments to the budgets of all levels every year. We are happy that the country will have the tax base for improvement of social standards thanks to us,” he says. Gladushko believes that PJSC UMCC, as a state-owned enterprise, fully carries out its social mission of making all required payments to the state.
Payment of dividends to the national budget is not the only thing the company does as the donor of the national budget. Last year, PJSC UMCC also paid UAH 875.7 million in taxes and mandatory payments to budgets of all levels, including the largest of them – UAH 148.3 million income tax, UAH 141.2 million – subsoil use tax and UAH 321.8 million – dividends.
Such large payments of taxes and fees became possible thanks to the positive financial result of the company. According to the Ministry of Economic Development and Trade of Ukraine, PJSC UMCC ranked 13th in H1 2017 by net financial result – net profit among all companies in the state sector. It amounted to UAH 303 million.
Since 2014, when PJSC UMCC overtook management of Irshansk Mining and Processing Plant and Vilnohirsk Mining and Metallurgical Plant, its payments of taxes and fees to the budgets of all levels have been steadily growing. In 2014, this indicator was only UAH 16.9 million, in 2015 – it reached UAH 361.2 million, in 2016 – UAH 781.2 million, in 2017 – UAH 875.7 million.
“I believe Ukraine hasn’t seen such efficiency from the plant in the form of taxes paid to the state, as PJSC UMCC achieved in four years of its operation in the titanium market.