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Gas utility SPP to pay out Sk19.9 billion

THE GAS utility Slovenský plynárenský priemysel (SPP) closed last year with an after-tax profit of Sk20.6 billion (€549.3 million), down 4.6 percent year-on-year, while its revenues increased 15.2 percent to Sk93 billion (€2.5 billion).

The company's shareholders decided at a general assembly meeting on May 16 that Sk19.9 billion from last year's profits will be paid out in dividends, the SITA news agency wrote.

The state owns a 51 percent stake in SPP and will thus collect Sk10.1 billion (€269.3 million) in dividends.

According to SPP's economy and finance division director, Libor Briska, SPP will pay a total of Sk15.5 billion to the state, of which Sk5 billion is in corporate income tax.

The shareholders also decided that SPP's unbundling will be carried out on July 1, when SPP's 100-percent subsidiaries, the gas transit company SPP-Preprava and the gas distribution company SPP-Distribúcia, will launch operations.

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