Central Asian Electric Power Corporation (CAEPC) will not pay dividends to its shareholders - businessmen Alexander Klebanov and Sergey Kan for 2023. At the same time, the company has become much more profitable than a year earlier.
According to Forbes.kz, the decision was made at the general meeting of shareholders; the reasons have not been disclosed.
It has become known that in 2023, CAEPC, together with its subsidiaries, earned 4.7 billion tenge in profit. A year earlier, the corporation's loss amounted to 29.7 billion tenge.
For 2023, the revaluation of fixed assets brought the company a profit of 32.4 billion tenge. Thus, total profit amounted to 37.1 billion tenge.
It is reported that after the revaluation for 2022, CAEPC's total loss increased to 37.3 billion tenge.
"Earnings per share in 2023 — 128.21 tenge (loss per share in 2022 — 568.38 tenge)", the statement says.
It is noted that for 2022, the group also refused to pay dividends.
CAEPC ranks 18th in the ranking of the 50 largest private companies in the Republic of Kazakhstan according to Forbes Kazakhstan for 2023. The group is engaged in the production, transmission, distribution and sale of electrical and thermal energy.
The main shareholders of the corporation are businessmen Alexander Klebanov and Sergey Kan, each of whom owns 47.1% of the company's shares.
Recall that in August, the shareholders of JSC "Shubarkol Premium" unanimously decided that the company would not pay dividends for 2023. This is presumably due to the fact that JSC incurred a loss of 4.02 billion tenge for the year. The company is partially under the control of businessman Timur Kulibayev.