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
- Astana LRT Operator Looks For Funding In China
- Smoke From Russian Wildfires Reaches Eastern Kazakhstan
- Kazakhstan Offers EU A Broader Partnership In Eurasia
- Oil Leak Reported In Caspian Sea Near Azerbaijan Coast
- Kazakhstan To Build 250 Roadside Service Stations For 180 Billion Tenge
- Police Chase With Kazakh Driver In Phuket Ends In Crash And Injuries
- Foreigners Moving To Kazakhstan Are Choosing Big Cities Over Most Regions
- Turkestan Region Leads Kazakhstan In Twin Births
- From Grain To AI: What Kazakhstan Brought To Afghanistan
- Helicopters Drop 39 Tons Of Water On Forest Fire In East Kazakhstan
- Kazakhstan Tightens Border Checks Despite Saying There Is No Fuel Shortage
- Kazakhstan Seeks Greek Investment In Energy And Transport
- Global Rating Agency Confirms Kazakhstan’s Investment-Grade Status
- Kazakh Company Sent $16 Million To China, Got No Goods And A Huge Fine
- Kazakh Parties Are Losing Focus With Overly Broad Programs, Expert Says
- Almaty Man Registered 990 People In One-Room Apartment And Received Sentence
- Montenegro President Makes First Official Visit To Kazakhstan
- Gas Prices In Kazakhstan To Rise From July 1
- Kazakhstan’s Oldest Gold Mining Company Resold For 8.7 Billion Tenge
- Kazakhstanis With Disabilities Can Check Building Accessibility Online
