The National Managing Holding '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 accounts for 15% of the company's net income for the reporting period. The dividend per share amounted to 96.5 tenge.
According to Bes.media, in 2024 the holding's net income stood at 408 billion tenge. Of this amount, 35%, or 145.3 billion tenge, was allocated to dividends and financial support for subsidiary structures.
The distribution of funds is as follows:
- 61.2 billion tenge — for the payment of dividends to the state;
- 54.7 billion tenge — to 'Agrarian Credit Organisation' to cover coupon payments on bonds issued to finance agricultural sector entities for spring field work and harvesting;
- 29.4 billion tenge — to 'Kazagrofinance' to cover coupon payments on bonds issued to finance the purchase of domestically produced and/or assembled agricultural machinery for subsequent leasing;
- 262.9 billion tenge will remain at the disposal of the fund.
In 2023, amid the budget crisis, the holding paid dividends in two stages: 61.1 billion tenge in the summer and 65 billion tenge in the autumn.
'The shareholder decided (...) to allocate the amount of 126.1 billion tenge, representing 30.95% of the holding's net income reflected in the consolidated annual financial statements for 2023, to the payment of dividends on the state's shareholding in the holding', the statement said.
In March of this year, the Deputy Prime Minister — Minister of National Economy Serik Zhumangarin announced that the government plans to increase the capital of the 'Baiterek' holding by 1 trillion tenge. According to Zhumangarin, these funds will allow the holding to finance investment projects worth up to 8 trillion tenge by the end of 2025.
Let us recall that from August to September 2024, the FBRK editorial team wrote about the bonuses of top managers of national companies belonging to the investment holding JSC 'NWF 'Samruk-Kazyna', namely JSC 'NC 'KazMunayGas', JSC 'NAC 'Kazatomprom', JSC 'NC 'QazaqGaz', JSC 'Kazakhtelecom', JSC 'KEGOC', JSC 'Samruk-Energy', JSC 'Kazpost', JSC 'Kazakhstan Temir Zholy', JSC 'Samruk-Kazyna Construction' and JSC 'Air Astana'.
A series of materials on the total amounts of remuneration for members of the executive bodies of Kazakhstan's national companies from 2020 to 2023 can be found here.
In August 2022, it was reported that the total amount of remuneration for four members of the executive body of JSC 'NMH 'Baiterek' was nearly 300 million tenge.
In October of last year, the company's Chairman of the Management Board, Rustam Karagoshin, stated that employees of JSC 'NMH 'Baiterek' receive bonuses on a quarterly basis.