In 2015 Zaporozhye Titanium and Magnesium Works paid 43.1 million UAH of dividends to the state.
Last year the company received 112.8 million UAH of net profits. 75% of the profits (84.6 million UAH) were spent to pay dividends, 20% – on the works development and 5% remained in the reserve fund.
“Despite the tough economic situation and the world titanium markets stagnation ZTMK was able to get that much of net profits. Thus we have been paying dividends to the state for the second year in a row. Thanks to investments we can enter new markets and get profits”, ZTMK director Vladimir Spivak said. (Ukrainian metal)
