Kulibayev’s Joint Resources Skips 2024 Dividend Payout
Photo: Olympia.kz
The Joint Resources holding company, fully owned by Kazakh businessman Timur Kulibayev, will not distribute dividends for 2024, Orda.kz reports.
According to a document published on the Kazakhstan Stock Exchange (KASE), the decision was made to withhold profit distribution despite the company’s 2024 year-end figures showing total assets of 352.8 billion tenge, total liabilities of 41.1 billion, and retained earnings of 153.4 billion tenge.
However, the year brought losses for the holding, prompting its sole shareholder to decline a payout. Financial results for 2025 so far are also weak: as of July 1, total liabilities had risen to 89.3 billion tenge, including 51.9 billion in accounts receivable, with net losses reaching 3.5 billion.
Joint Resources manages Kulibayev’s assets in coal mining, mineral exploration, energy, and oil production, controlling companies such as Shubarkol Premium, Caspiy Neft, Kristall Management, and Premier Development Company.
In June, it was reported that another Kulibayev family asset — the Almex holding group — also opted not to pay dividends for 2024.
Original Author: Nikita Drobny
Latest news
- Orda.kz Editorial Team to Cease Operations on September 1
- The Price of a Degree: How Students in Kazakhstan Pay for University
- Second Przewalski’s Horse Foal Born as Species Returns to Kazakhstan
- Kazakh Mining Companies Can Recalculate Purchases if Tenge Weakens
- Kazakhstan Names First Vice President in Three Decades
- What Almaty’s Bus Shelters Are Missing
- 400-Truck Queue Builds at Kazakh–Kyrgyz Border
- Kazakhstan Ready to Help Feed and Rebuild Gaza
- Tokayev Establishes New Presidential Security Body
- Almaty Takes Back Its Nearly Century-Old Hippodrome
- No More Guesswork on Savings: Kazakhstan Tightens Energy Audits for Businesses
- Public Money Could Be Used to Rescue Failing Kazakh Banks
- Third Kazakh Woman Reported Missing in Nepal-China Flood Zone
- Falconer Convicted Over 35 Protected Birds, Spared Punishment Under Amnesty
- Kazakh Citizen Detained in Yakutia in Phone Fraud Case
- Yuan Instead of Dollars? KazMunayGas Draws Record Demand in Asia
- China Gains Oil-Market Influence as OPEC+ Weakens
- Kazakhstan to Divide Smartphones Into White, Gray and Black Lists
- Kazakhstan’s Government Formally Resigns as First Kurultai Session Opens
- Rare Lynx Sighting Recorded in Northern Kazakhstan
