"Uztransgaz" JSC allocates 76% of net profit for 2013 to development of production
Tashkent, Uzbekistan, July 10
By Demir Azizov- Trend:
Uztransgaz JSC- supervisor of activities of gas transportation and delivery in Uzbekistan, will retain 76 percent of the net profit for 2013 until the approval of the appropriate decision on the centralization of these funds in the "Uzbekneftegaz" National Holding Company and direction to reinvestment (development of production) in Uztransgaz JSC, a source in the company told Trend with reference to the decision of the annual general meeting of shareholders.
As of 2013, the net profit of Uztransgaz JSC increased by 57.3 percent and amounted to 2.292 trillion soums, the source said.
The source did not reported about any other financial indicators of the company for 2013, the volume of natural gas revenues from gas production enterprises to the gas transmission system or the volume of its exports.
Some 59.1 billion soums, or 2.6 percent out of the total volume of the net profit will be spent to pay dividends equaling 490 nillion soums (21.4 percent) for capitalization in accordance with the decision of the shareholders.
Some 58.3 billion soums are being spent to the payment of dividends on ordinary shares, and 768.3 million soums on preferred shares.
Dividends per ordinary share will be paid in the amount of 127.4 soums (12.7 percent to nominal value) and for each preferred share - 250 soms (25 percent to nominal value).
As of 2012, Uztransgaz JSC paid 111.1 soums per ordinary share, and 250 soums per preferred share of the company.
At present, the authorized capital of the Uztransgaz JSC generated 460.84 billion soums and is divided into 457, 698 ,723 ordinary shares and 3,145,123 preferred shares of par value of 1,000 soums each.
The main shareholders of Uztransgaz JSC are "Uzbekneftegaz" (51 percent) and the State Committee of Uzbekistan on privatization, de-monopolization and development of competition, "Goskomkonkurentsii" (48.3 percent).
Uztransgaz JSC, a subsidiary of the "Uzbekneftegaz" National Holding Company, controls the main gas pipelines. Currently, the total length of the Uzbek main gas pipelines is about 14,000 kilometers. Uztransgaz JSC exploits 24 compressor and more than 300 gas distribution stations.Uzbekistan laid "Central Asia-Center" and "Bukhara-Ural" separate gas transmission systems.
Uzbekistan ranks third among CIS countries in terms of natural gas production after Russia and Turkmenistan and is included in the top ten largest gas-producing countries in the world. The country produces more than 60 billion cubic meters of gas annually, some part of which is exported.
The official exchange rate for July 8 is 2320.16 soums / $ 1.
Edited by CN