Major Kazakh mobile operator allocates money on dividend payments

Finance Materials 1 June 2019 10:30 (UTC +04:00)

Baku, Azerbaijan, June 1

By Nargiz Sadikhova - Trend:

Kcell, major Kazakh mobile operator is to allocate 70 percent of the net profit to dividend payments, Trend reports via Inbusiness.

“As at the end of 2018 the value of company’s net profit amounted to 8.531 billion tenge. During the annual general shareholders' meeting it was decided to allocate 5.972 billion tenge (70 percent of the net profit) on dividend payments,” the report said.

Thus, the value of dividend payments has decreased by 49 percent, compared to 2017 when the same value amounted to 11.678 billion tenge or 87 percent of the net profit.

“Some 29.86 tenge account for one common stock or GDR (Global Depositary Receipt),” the statement said.

As at January 1, 2019 Kcell possesses 200 million of common stock, all of them are placed.

“The payment of the dividends will be performed in non-cash form via transfer of assets of shareholders’ bank accounts. The right to receive dividends have those Kcell shareholders who have registered before June 2, 2019, i.e. the closing date of the shareholders’ registry,” reads the message.

“The dividend payments will be performed one-time via one payment within 80 days starting from June 3, 2019,” the report said.

Kcell is one of three mobile operators of Kazakhstan.

(1USD = 383.31 KTZ on June 1)


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