Donetskoblenergo to pay UAH 15.2 mln in dividends to the national budget

The meeting of shareholders approved the reports of the General Director, the Supervisory Board and the Audit Committee of the company.

The shareholders decided to accrue and pay dividends based on the 2013 performance results of DTEK Donetskoblenergo in the amount of 30.2% of net profit, or UAH 0.93 per share.

In total UAH 60.9 million will be paid as dividends. The company will pay dividends attributable to the stake of the Energy Company of Ukraine (holding 25%+1 share in DTEK Donetskoblenergo) in the amount of UAH 15.2 million to the national budget. DTEK Donetskoblenergo will pay UAH 2.2 million in dividends to the minority shareholders. DTEK's share of UAH 43.5 mln will be reinvested in further development of DTEK Donetskoblenergo.

The shareholders also supported the proposals on financing the operations of DTEK Donetskoblenergo and approved decisions required for fund raising and company's development.

"Last year DTEK Donetskoblenergo allocated 103.5 million hryvnias for investment projects aimed at the improvement of electricity supply quality and reliability and the implementation of high customer service standards", says DTEK Donetskoblenergo General Director Oleksii Sidorenko. "The Company commissioned the new 110 kV Misto-11 substation in Mariupol to meet the city's growing demand for electricity. We continue projects on the implementation of an automated electricity commercial metering system for households and the development of on-line services for our clients. At present about 28,000 customers use our on-line service "User's Personal Account" available on our website. We have been expanding the network of Customer Service Centres operating like a one-stop shop to make it more convenient for our clients. We plan to open seven more centres next year. In 2014, we plan to invest 294.5 million hryvnias in further development."