Kazakhstan's KazTransOil to allocate entire income to pay dividends
BAKU, Azerbaijan, May 30
By Nargiz Sadikhova - Trend:
Kazakhstan’s largest oil pipeline company – KazTransOil JSC – will allocate 100 percent of its net income on paying dividends for 2019, Trend reports with reference to the KazTransOil (KTO).
The resolution to pay dividends on common shares of KTO for 2019in the amount of 118 tenge (2.9 cents) per one common share was adopted during the annual general meeting of shareholders of KTO by absentee voting on May 27, 2020
Thus, KTO will allocate 100 percent of the net income of KTO for 2019 in the amount of 45.1 billion tenge ($109.5 million) and part of the retained earnings for past years in the amount of 264.6 million tenge ($642,663).
The list of KTO shareholders entitled to receive dividends on common shares for 2019 will be compiled as of 12:00 (GMT +6) of June 3, 2020.
The dividends will be paid out starting from June 18, 2020, by cash transfer to the shareholders’ accounts:
– on common shares being in nominal holding of Central Securities Depository JSC through a paying agent represented by Central Securities Depository JSC;
– on common shares not being in nominal holding of Central Securities Depository JSC by KTO itself.
KazTransOil is Kazakhstan’s largest oil pipeline company, which provides services on oil transportation on the domestic market and for export.
The company is an owner of the largest network of main oil pipelines and waterlines in the country, total length of which amounts to 5,376 km of oil pipelines and 1,975 km of water pipeline.
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