JSC NC “KazMunayGas” will pay KZT 81.7 billion of dividends to shareholders for 2019
On 22 May 2020, the Board of Directors of JSC NC “KazMunayGas” (hereinafter – KMG, the Company) approved the payment of dividends based on the 2019 performance in the amount of KZT 81.7 billion, which is approximately twice as much as a year earlier.
The decision to pay dividends was made in accordance with the dividend policy and endorsed by the Company’s principal shareholder taking into account the instructions of the Head of State. Additionally, the Board of Directors took into consideration the current financial standing of KMG, the cash flow forecast, the impact on international credit ratings, the ongoing job preservation efforts, and planned investments made in the interests of the state.
According to the audited financial statements for 2019, in addition to dividends paid, KMG directed KZT 20 billion to shareholders, including funds for the construction of social facilities in the cities of Nur-Sultan and Turkestan.
It should be noted that the Company also uses proceeds from its activities to service external liabilities, the repayment amount of which in 2019 was about KZT 997 billion ($2.6 billion).