Caspian Oil, the ultimate shareholder of which is the son-in-law of former Kazakh President Nursultan Nazarbayev Timur Kulibayev, directed KZT11bln to dividends for 2022 and January-March 2023. This is stated in the message from the Kazakhstan Stock Exchange (KASE).
All quarterly profit (KZT6.22 bln) for January-March 2023, as well as part of retained earnings for 2022 in the amount of KZT4.77 bln was directed to dividend payments. The amount per common share was 110 thousand tenge. Dividends will be paid by transferring the money to the settlement account of Joint Resources.
Retained earnings as of 31 March 2023 amounted to KZT19.26 bln (of which KZT13.03 bln for 2022), the company said in a statement on KASE dated 16 August 2023. However, the quarterly financial statements indicate that retained earnings totalled KZT22.3 bln.
In early June, Caspian Oil reported a dividend payment for 2022 of KZT142.1 bln on annual profit of KZT49.04 bln. Retained earnings as of 1 January 2022 were KZT109.03 bln, it said. By the end of the year, the company's retained earnings stood at N15.97 bln.
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