Caspiy Neft Skips Dividend Payout for Second Year

Caspiy Neft, a company owned by oligarch Timur Kulibayev through Joint Resources JSC, will not pay dividends for the second consecutive year, Orda.kz reports.

According to information published on the Kazakhstan Stock Exchange (KASE) website, the sole shareholder of Caspiy Neft has decided not to distribute dividends on ordinary shares for 2024. The previous year, Kulibayev’s holding group Almex also withheld dividend payouts to shareholders.

As of April 1, Caspiy Neft’s net profit stood at 8.9 billion tenge. For the full year 2024, it reached 21.2 billion tenge.

Meanwhile, it has been confirmed that the Kulibayev family will still receive dividends from another major asset, Halyk Bank. And the amount is substantial: over 323 billion tenge.

Original Author: Nikita Drobny