KEGOC JSC’s dividend policy is based on balancing the interests of the Company and shareholders when
determining the size of dividend payments, enhancing the Company’s investment attractiveness and
capitalization, and respecting and strictly observing the shareholders’ rights provided by the legislation
of the Republic of Kazakhstan.
The Company strives to increase the amount of dividends paid alongside capitalization growth, based on the net
income for the year and the needs for the Company’s production and investment activities development.
The main conditions for dividend payments are: the Company has net profit for the reporting period or retained
earnings; there are no restrictions on dividend payments as provided by the legislation of the Republic
of Kazakhstan and the Company’s Dividend Policy; and the General Meeting of Shareholders has decided to pay
dividends.
The source of dividend payments to shareholders is the net income for the corresponding financial year or half-year, or retained earnings, calculated based on KEGOC JSC’s consolidated financial statements prepared in accordance with IFRS. When preparing a proposal on the distribution of net income for the financial year or half-year and the size of dividends, the Board of Directors proceeds from the principle that the amount allocated for dividend payments should be at least 60% of net income. The decision on dividend payments on KEGOC JSC’s common shares for the year is made by the Annual General Meeting of Shareholders after the Company’s annual financial statements are approved. The decision on dividend payments on KEGOC JSC’s common shares for the half-year can be made by an Extraordinary General Meeting of Shareholders within three months after the audit of the Company’s financial statements for the corresponding period. The General Meeting of Shareholders, after considering the proposals of the Board of Directors, makes the final decision on dividend payments on KEGOC JSC’s common shares, approves the amount of dividends per common share of KEGOC JSC, and sets the date for the start of dividend payments at its discretion.
