Kazakhstan's KEGOC looks to pay out dividends for 2020

Business Materials 26 April 2021 13:46 (UTC +04:00)

BAKU, Azerbaijan, Apr. 26

By Nargiz Sadikhova - Trend:

Кazakhstan Electricity Grid Operating Company (KEGOC) is planning to allocate 74 percent of net profit to pay dividends for 2020, Managing Director for Finance at KEGOC Aibek Botabekov said, Trend reports citing Kazakh media.

Botabekov said that the issue will be considered on April 27.

“KEGOC’s net profit amounted to 53.4 billion tenge ($123.3 million) in 2020. The dividend payments will then be 39.5 billion tenge ($91.2 million) in total, making a dividend worth 152.1 tenge ($35 cents) per share),” he said.

Botabekov also noted that KEGOC has submitted an application for approval of the ceiling level of tariffs for regulated services for 2021-2025.

“The application includes an increase in the ceiling prices for electricity, which were adopted by the Ministry of Energy on April 1. It provides for a 30-percent increase in electricity transmission services. If the tariffs are increased by 10 percent, then the tariff for the buyer will increase by a maximum of 1 percent. We hope that from October 1, the rates will be changed," he explained.


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