Kcell Board of Directors decision on dividends
Almaty, 20 September 2022. Kcell Joint Stock Company (“Kcell” or the "Company") (KASE: KCEL), one of the leading providers of mobile telecommunications services in Kazakhstan, informs that on 15 September 2022, the Board of Directors of the Company decided to postpone consideration of the issue on distribution of retained earnings of previous periods in the form of dividends until 1 November 2022. To consider this issue, the Company’s performance results for 9 months of 2022 should be taken into account and also plans for the development of infrastructure and formation of an investment portfolio in the medium term (2023-2025) should be finalized.
The issue was submitted to the Board of Directors for consideration in accordance with the instruction of the Annual General Meeting of Shareholders dated 19 May 2022 (Minutes No. 21): “Instruct the Board of Directors of Kcell JSC to submit a proposal for the distribution of retained earnings of previous periods by 15 September 2022”.
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Kcell is a Kazakh provider of digital telecommunications services: mobile communications and converged services of fixed communications (FMC), data transmission and Internet access, financial services, digital services and mobile applications, IT solutions in the field of system integration, the Internet of things, machine-to-machine connectivity, big data collection and processing and cloud computing. Kcell is also a leading mobile operator in Kazakhstan providing the ‘smartphone + tariff’ service.
Kcell has become the largest digital ecosystem in Kazakhstan with competitive advantages through its value-added services such as mobile financial services, mobile TV, online movies, music, books and magazines, as well as unique solutions for business customers. The company holds leading positions in the B2B market thanks to its strategy of vertical infrastructure solutions and development and implementation of the cutting-edge technologies. The company’s 4G/LTE network covers 67.5% of the country’s population and provides high quality services.
The company operates under its two brands - Kcell and activ that are widely recognized in our highly competitive telecom market due to the high quality of customer service. Thanks to its clear multi-brand architecture, Kcell increases its business efficiency in the B2C segment through optimal pricing for bundled offerings, customer base profitability management and network quality.