Baku, Azerbaijan, May 26
By Elena Kosolapova - Trend:
KazMunaiGas Exploration Production JSC (KMG EP), one of the top three Kazakh oil producers, will pay no dividend on ordinary shares for 2015, the company reported May 26.
This decision was made at an annual general meeting of shareholders of the KMG EP.
In accordance with KMG EP's Charter, an annual minimum guaranteed dividend of 25 tenges (including taxes to be withheld in accordance with Kazakhstan's legislation) will be paid per preferred share. This is equivalent to 52 million tenges (approximately $153,000).
KMG EP is among the top three Kazakh oil producers. The overall production in 2015 was 12.4 million tons of crude oil, including the company's share in joint ventures.
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