Kernel shareholders were offered to carry over almost $90 million in profit to future years

The Board of Directors of the Kernel agricultural holding proposes to carry forward $89.55 million of the parent company’s net profit to subsequent financial periods instead of paying dividends.

This was  reported by Interfax-Ukraine with reference to the draft resolutions of the shareholders’ meeting of Kernel Holding S.A., published on the Warsaw Stock Exchange.

The relevant issue will be considered at the general meeting of shareholders on December 10, 2026. This concerns the distribution of the parent company’s net profit for the 2026 financial year, which ended on June 30.

At the same time, the consolidated net profit of the entire Kernel group increased by 35% to $322 million at the end of the financial year. The agricultural holding’s revenue increased by 7% to $4.404 billion.

In its annual report, the company previously explained the recommendation not to pay dividends by the risks associated with the war and the blockade of the Black Sea. In particular, Russian attacks damaged Kernel’s port assets, and restrictions on sea transportation created a need to develop alternative export routes.

In addition to the distribution of profits, shareholders will be offered to reduce the composition of the board of directors from eight to seven people. This is due to the decision of Daria-Anna Danylchuk Masri not to extend her powers.

The mandates of the remaining seven members of the board of directors are proposed to be extended for another year. It is also planned to extend the powers of the auditor PricewaterhouseCoopers Assurance (Luxembourg).

Earlier, USM reported that the board of directors of Kernel recommended not to pay dividends for the 2026 financial year due to risks to Black Sea logistics and the need to restore damaged port infrastructure.