Board of Directors of Kcell recommended not to pay dividends on ordinary shares of the company for 2022
/KASE, March 20, 2023/ – Kcell JSC (Almaty), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated March 20, 2023:
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Kcell Joint Stock Company (Kcell or Company) (KASE, KCEL), one of the leading providers of the mobile communication services in Kazakhstan, announces that in connection with the implementation of the "Introduction and development of fifth generation mobile communication (5G\IMT) in the Republic of Kazakhstan" project, which is strategically important for the long-term competitive development of the Company in the telecommunications market, and given that its implementation will add burden on the Company’s cash flow in 2023, the Board of Directors' recommendation to the General Meeting of Shareholders is not to distribute net income for fiscal year 2022 and not to pay dividends on ordinary shares of Kcell JSC.
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The complete press release is available on:
[2023-03-20]