Kazakh KEGOC to pay out 40% more dividends

Business Materials 19 April 2019 14:44 (UTC +04:00)

Baku, Azerbaijan, Apr. 19

By Fakhri Vakilov – Trend:

The Kazakhstan Electricity Grid Management Company (KEGOC) for the second half of 2018 can direct over 14 billion tenge to the payment of dividends, Trend reports via Kazakh media.

“By the decision of the board of directors in March, the shareholders meeting was asked to consider the distribution of 87.7 percent of net income for 2018 (minus dividends paid for the first half of 2018) in the amount of 14.3 billion tenge,” the managing director on finance and accounting KEGOC Aibek Botabekov said.

The payment on one ordinary share will be 54.53 tenge.

For the second half of 2017, the company allocated 6.48 billion tenge to pay dividends.

Thus, in the current year, dividends for the second half of the year increased by 37 percent.

For the first half of 2018, 20.938 billion tenge was paid.

Therefore, the payment of dividends for 2018 will amount to 35.1 billion tenge, which is 1.5 times more than in 2017.

Aibek Botabekov stated that dividends will be paid in the second half of May.

The authorized capital of the company consists of 260 million ordinary shares.

Net profit of KEGOC in 2018 amounted to 40.043 billion tenge.

KEGOC Kazakhstan Electricity Grid Operating Company was established in accordance with a resolution of the Government of Kazakhstan dated September 28, 1996.

Date of initial registration of KEGOC is July 11, 1997.

The national electrical network ensures the transmission of electrical energy from energy producers who have a scheme for issuing electricity directly to the national electrical network to wholesale consumers connected to this network.

($1-379.92 tenge on Apr. 19)


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