KazMunayGas to Pay 300 Billion Tenge in Dividends from 2024 Profit
Photo: Gov.kz
The board of directors of the national company KazMunayGas plans to allocate 300 billion tenge from its net profit to pay dividends to shareholders, Orda.kz reports.
According to the company’s statement published on May 5 on the KASE website, the decision on profit distribution will be finalized at the annual general meeting of shareholders scheduled for May 29. In 2024, KazMunayGas earned a total of 1 trillion 94 billion tenge.
The company plans to retain 794 billion tenge for its development and pay around a third to shareholders.
“The amount of dividends for 2024 per common share will be 491.71 tenge,” the national company stated.
If approved by shareholders, the dividend payments will start on June 24.
As of April 1, KazMunayGas shares were distributed as follows: 67.82% held by the National Welfare Fund Samruq-Qazyna, 20% by the Ministry of Finance of Kazakhstan, and 9.58% by the National Bank of Kazakhstan.
This means that nearly all dividend payments will go to state entities.
Meanwhile, KazMunayGas' top executives received over 705 million tenge in remuneration for 2024. Salaries and bonuses for the management board increased by 28% compared to 2023, and board members’ pay rose by 10.9%.
Original Author: Nikita Drobny
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