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DTEK, owned by Ukrainian oligarch Rinat Akhmetov, asks for aid to restore energy infrastructure while diverting 1 billion to dividends

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DTEK, owned by Ukrainian oligarch Rinat Akhmetov, asks for aid to restore energy infrastructure while diverting 1 billion to dividends
DTEK, owned by Ukrainian oligarch Rinat Akhmetov, asks for aid to restore energy infrastructure while diverting 1 billion to dividends

Despite active calls to the international community and the Ukrainian state for financial support to restore damaged energy infrastructure, the Odesa branch of the energy giant DTEK has decided to pay dividends to its shareholders in the total amount of almost 1 billion hryvnias.

According to the proposed decision of the general meeting of shareholders, published on the company’s official website, it is planned to:

  • Approve the net profit for 2024 in the amount of 1,278,356,000 UAH;
  • Allocate 961.4 million UAH for the payment of dividends.

This decision causes outrage and misunderstanding in society, especially in the Odesa region, where residents are often left without electricity due to attacks on energy infrastructure. Indeed, while paying dividends, DTEK appeals to the government and international partners for financial support to restore thermal power plants, substations, and power lines.

"Ukraine needs the world’s support in restoring the energy system—this is our common battle," said DTEK campaign ambassador Oleksandr Usyk during a showcase training at a damaged thermal power plant.

Under these circumstances, it would be logical to expect the company to allocate some of the income to restoring critically important infrastructure, rather than paying out to shareholders, especially in times of war and a lack of resources in the country’s energy system.

James Turner

James Turner

Crime & Courts Correspondent

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