Kazakh Kcell plans to send all profit to dividends

Baku, Azerbaijan, April 29

By Elena Kosolapova- Trend:

Kcell, a leading operator in Kazakh telecommunication market plans to send all profit received in 2013 to dividends, Novosti-Kazakhstan reported on April 29 with the reference to the company.

The Company's Board of Directors recommends paying an annual dividend in the amount of 221.81 tenge (about $1.22) per ordinary share. Such payments amount to 70 percent of the company's net profit in January-December 2013.

Moreover, taking into account the strong financial performance in 2013, the Board of Directors recommend paying additional special dividends in the amount of 95.14 tenge (about $0.52) per ordinary share, which makes up 30 percent of the company's net profit in 2013.

In total, the company's dividends will reach 63.390 billion tenge (182.02 tenge = $1) or 100 percent of its net profit in 2013.

Kcell received 63.392 billion tenge in net profit in January-December 2013 (2.5 percent increase compared to 2012).
Kcell JSC is affiliated with TeliaSonera, the largest Scandinavian telecommunications holding.
The company was established in 1998 and since February 1999 began rendering services of cellular communication under the trade mark Kcell. As of July 17, 2013 the company's subscriber data base was 14.1 million.

.