Kulibayev’s Maikuben-West Will Not Pay Dividends for 2024
Photo: Wikimedia Commons, OGL v1.0
Joint-stock company Maikuben-West, controlled by Kazakh businessman Timur Kulibayev, has decided not to pay dividends for 2024, Orda.kz reports.
According to a document published on the KASE website, the brown coal producer based in the Pavlodar region reported a net profit of 1.17 billion tenge last year. The company’s undistributed profit reached 10.2 billion tenge, while its assets stood at 27.7 billion tenge against total liabilities of 12.2 billion tenge.
Despite this, Maikuben-West will not distribute any of its profits. Its sole shareholder, Premier Development Company, will receive nothing from the income earned in 2024.
Premier Development Company JSC, through Joint Resources JSC, is controlled by Kulibayev, who ranks No. 4 on the Forbes Kazakhstan list for 2025.
This is not the only instance of Kulibayev-owned businesses holding back dividend payouts.
Earlier, it was reported that Joint Resources, the holding through which the entrepreneur manages multiple assets, posted multibillion-tenge losses and also refused to distribute accumulated profits.
Original Author: Nikita Drobny
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