OREANDA-NEWS. May 10, 2011. JSC KazMunaiGas EP (“KMG EP” or “The Company”) held an Annual General Meeting of Shareholders.

The shareholders approved the Financial Statements and the Annual Report for 2010. They also approved the dividend for 2010 in the amount of 800 Tenge (including taxes to be withheld in accordance with the legislation of Kazakhstan) per one ordinary and one preferred share of KMG EP. The total volume of the dividend pay for 2010 will be about 57 billion Tenge (approx. USD  389 million).

The approved dividend implies a 13.6% increase in dividend per share compared to the previous year and is the highest amount per share since IPO in 2006. The payment of the annual dividend for 2010 will be made to shareholders of the Company as per share register at 0:00, May 16, 2011 and will commence on June 20, 2010.

At the Annual General Meeting of KMG EP’s shareholders the powers of Kenzhebek Ibrashev, a member of the Company’s Board of Directors, have been early terminated. Alik Aidarbayev has been appointed as a member of the Company’s Board of Directors for the term of the Board of Directors as a whole.