EAVEX Weekly

August 17, 2020

Kyiv-listed equities ended mixed last week, with the most significant movement seen in quotes for Raiffeisen Bank Aval (BAVL), which soared by 16% to 41.00 kopecks after the bank announced its intention to pay out a 6.95 kopeck dividend from 2019 profit. The bank’s annual shareholders meeting was delayed this year due to the COVID quarantine, but has been rescheduled for Sept 11 in a “virtual” format. The agenda contains a vote to approve a UAH 4.3bn dividend distribution from FY19 net profit of UAH 4.7bn. The proposed dividend payout of 90% exceeded the 70% payout expected by the market. Around 68% of the shares in the bank are held by majority owner Raiffeisen International. In other UX index components, low-liquidity DonbasEnergo (DOEN) gained 9.7% to UAH 20.00 per share, while UkrNafta (UNAF) was unchanged at UAH 122 despite the company announcing that it managed to recover some UAH 1bn in bad debts from Privat Group-affiliated entities for unpaid crude oil. On the downside, CentrE