Dividend Policy
In accordance with the laws of the Republic of Kazakhstan, the Company Charter and this Policy, as well as based on the audited financial statements of the Company for the relevant period, the Board of Directors prepares a proposal on distribution the Company's net profit for the past financial year, quarter or half-year period and the amount of dividends for the year, quarter or half-year period.
The decision to pay dividends and approve dividends per ordinary share is made by the General Meeting of Shareholders. The amount of annual dividends on ordinary shares of the Company will be at least 50% and no more than 100% of the Company's net cash flow for the previous financial year (Cash flow from operating and investment activities). The payment of dividends result in violation of the Company's financial covenants to creditors.
Taking into account the cash flow from operating and investment activities, the minimum amount of dividends should be 20% (twenty percent) of the net profit for the past financial year.
1
General provisions
1.1.
This document has been developed in accordance with the Law of the Republic of Kazakhstan “On Joint-Stock Companies” No.415-ИI of May 13, 2003, as amended (the Law), other statutory and regulatory enactments of the Republic of Kazakhstan and the Charter of Kcell JSC (Company).
1.2.
The terms used in this document have the following meanings:
1.3.
The provisions of this document shall apply to determine the cost of Shares in case of their redemption by the Company: (a) on the initiative of the Company for subsequent resale of such Shares by the Company or for other purposes not contrary to the laws of the Republic of Kazakhstan and the Charter of the Company or (b) at the Shareholder’s request in the cases provided for by the Law
2
Methods
2.1.
Акцияларды Қоғамның бастамасы бойынша сатып алу Қоғамның бастамасы бойынша Қоғамның Акцияларды сатып алуы Директорлар кеңесі тиісті шешім қабылдағанға дейін кем дегенде 30 (отыз) күнтізбелік күн бұрын Қоғамның өз қалауы бойынша тағайындаған тәуелсіз бағалаушының белгілеген бағасы бойынша жүзеге асырылуы тиіс.
2.2.
Redemption of Shares at the Shareholder’s request
Оригинал документа
Dividend Policy