The Board of Directors of JSC NC KazMunayGas (KMG) has proposed allocating 300 billion tenge of net profit for 2024 towards dividend payments.
On the website of the Kazakhstan Stock Exchange (KASE), it is stated that the relevant decision has been proposed for approval at the Annual General Meeting of Shareholders (AGM), which will take place on 29 May.
KMG's total net profit for last year amounted to 1 trillion 94 billion tenge. Of this, 794 billion tenge is planned to be retained for investment and development, with the remaining 300 billion tenge to be directed towards dividend payments to shareholders.
According to the document, dividends for 2024 will amount to 491.71 tenge per ordinary share. If approved, payments to shareholders will begin from 24 June.
According to ORDA, as of 1 April this year, KMG shares were distributed as follows:
- 67.82% — National Welfare Fund Samruk-Kazyna;
- 20% — Ministry of Finance of the Republic of Kazakhstan;
- 9.58% — National Bank of the Republic of Kazakhstan.
Thus, almost the entire amount of dividends (around 98%) will go to state bodies.
Recall that earlier, NUH Baiterek, by decision of its sole shareholder — the State Property and Privatisation Committee of the Ministry of Finance — paid the state 61.2 billion tenge in dividends for 2024, which amounts to 15% of the company's net income for the reporting period. The dividend per share amounted to 96.5 tenge.