Dividend Policy

The dividend policy of Kazakhstan Ijara Company (KIC) is designed to align with the legal framework of the Republic of Kazakhstan, the Company's Charter, and internal protocols. The internal document, known as the Order for the distribution of the net profit of "Kazakhstan Ijara Company" JSC, is drafted to ensure fairness to both the Company and its shareholders. This policy establishes a transparent mechanism for allocating net income and is developed with a deep respect for shareholder rights.

The Amount, Form, and Term of Dividends Distribution:

The Board of Directors, after evaluating the Company's financial performance, presents a detailed proposal for dividend distribution to the General Shareholders Meeting. 

This proposal, inter alia, includes:

- information on the proposed dividend amount per common share, 

- the method and form of distribution, and 

- the timeline for disbursement. 

Key factors influencing the proposed dividend amount cover net income, solvency indicators, financial stability metrics, and strategic development goals. The materials provided to shareholders during the General Shareholders Meeting ensure comprehensive information, fostering an informed discourse on dividend distribution. Decisions regarding the payment/nonpayment of dividends on common shares and the approval of the dividend amount per common share for the financial year are made by a simple majority of voting shares. 

The designated amount for dividends distribution should be a minimum of 40% of the net income. However, the Board of Directors has the authority to propose a lower distribution, considering audited financial outcomes, industry dynamics, and the Company's capital investment program. Prohibitions on dividend distribution are in place if the Company's net worth turns negative or triggers insolvency criteria. The calculation of dividend amounts is done per common share, and any remaining net income not distributed remains within the Company's control for use in line with its objectives.

Dividends paid to KIC shareholders in KZT during 2021, 2022, 2023, 2024:

Date of payment

Amount, KZT

20.09.2021

215 020 026

11.10.2022

257 686 082

27.09.2023

449 979 040

26.08.2024

499 995 486