KazMunayGas shareholders maintain 2023 dividends at 2022 level

ASTANA. June 10 (Interfax) - Shareholders of Kazakhstan's National Company KazMunayGas (KMG) have decided to maintain dividends for 2023 at the same level as in 2022; the dividend for each ordinary share will be 491.71 tenge, the company said in a statement on the Kazakhstan Stock Exchange (KASE).

The total amount of dividends will be about 300 billion tenge.

Dividend payments for 2023 will be made starting June 24 to persons registered in the register of shareholders as of May 29.

As previously reported, the dividend amount was recommended by the board of directors in May of this year.

KMG's net profit at the end of 2023 reached 924 billion tenge, a 29.2% decrease compared to 2022.

KazMunayGas is the Kazakh national operator for exploration, production, processing and transportation of hydrocarbons, representing the interests of the state in the oil and gas industry. The largest holders of KMG shares are the Samruk-Kazyna National Wealth Fund (67.42%), the Ministry of Finance (20%) and the National Bank (9.58%). Charter capital as of April 1, 2024 was 916.541 billion tenge.

The official exchange rate as of June 10 is 447.37 tenge/$1.