“NAC Kazatomprom JSC” announced the results of the next meeting of the Board of Directors of the Company, which was held in Astana on 6 April 2023.
Kazatomprom is the world’s largest producer of uranium, which accounted for about 22% of the total global primary production of natural uranium in 2022. The Group unites 14 uranium mining assets, 12 of which are joint ventures with the world’s leading companies in the nuclear industry. Compliance with the highest requirements for product quality in accordance with international standards in the field of ecology, social responsibility and corporate governance (ESG) in all aspects of business is confirmed in practice by joining the UN Global Compact in 2022 and receiving a rating from the international agency, S&P Global. The introduction of a number of key initiatives in the Company aimed at achieving carbon neutrality, improving the safety of production and the social well-being of our employees ensures that quality of Kazakh-origin uranium mined with minimal environmental impact is not inferior and even surpasses quality of such material mined anywhere else in the world.
Recommendations on Kazatomprom dividends for 2022
The decision to pay dividends is subject to approval by shareholders at the Meeting on 25 May 2023. Based on the audited financial indicators of 2022, the Board of Directors recommended the amount of a dividend per common share (one GDR is equal to one common share) in the amount of 774.88 tenge, payable for 2022. Thus, the total amount of dividends will be about 200.97 billion tenge, which is more than 75% of the free cash flow according to the Company’s Dividend Policy. If approved by the AGMS, the payment of dividends for 2022 will begin on 17 July 2023 to persons registered in the register of shareholders as of 14 July 2023 at 00:00 local time (GMT+6).
In July 2022, the Company paid dividends to its shareholders in the amount of 227.4 billion tenge based on the results of operations for 2021, which included proceeds from the sale of 49% of the Group’s stake in MC Ortalyk LLP as part of the calculation of consolidated free cash flow in accordance with the Company’s dividend policy for 2021.
The global economy is committed to energy security and increasingly relies on clean nuclear power. In the current times of economic and geopolitical uncertainty, the Company remains committed to working with its international partners and utilities around the world, including customers in the US, Europe and Asia, with whom Kazatomprom is building strong relationships, thereby ensuring an uninterrupted supply of uranium for reactor operations.end policy for 2021.