Kazakhtelecom Shares Climb Following Dividend Announcement

Shares of JSC Kazakhtelecom rose following the company’s announcement of dividend payments, Orda.kz reports.

According to information published on the KASE website, Kazakhtelecom will allocate nearly all of its 2024 net income — 74.1 billion tenge — to dividends. 

Payments for each ordinary share will amount to 6,741 tenge. Additionally, the company will distribute retained earnings from previous years, totaling 219.26 billion tenge, which brings the total dividend per share to approximately 26,700 tenge.

Following the announcement, Kazakhtelecom shares, which had declined in February after the sale of Mobile Telecom-Service LLP (operators Tele2 and Altel), began to recover, supporting broader market performance.

The decline was halted by a 1.3% increase in Kazakhtelecom shares amid news of unprecedented dividends,
the Association of Financiers of Kazakhstan noted. 

Earlier, public perception was impacted by inflated rates identified by the Agency for the Protection and Development of Competition. 

Kazakhtelecom's major shareholders are the Samruq-Qazyna Fund and private firm Telecom Systems Ltd.

Original Author: Nikita Drobny