On May 30, 2023, after the reconvening, the annual general meeting of shareholders of JSC “Kant Cement Plant” was held. The meeting, convened earlier on April 26, 2023, did not take place due to the non-appearance at the meeting of the owner of the controlling stake – the United Cement Group company.

According to the results of work for 2022, the company received a net profit in the amount of 1 billion 179 million 857 thousand soms. By its decision, the company’s Board of Directors directed 25% of net profit to the payment of dividends. However, when voting on this issue, the owner of the controlling stake did not support this decision. Thus, the issue of payment of dividends on shares of JSC “KTZ” remained open.

It should be noted that according to Article 31 of the Law of the Kyrgyz Republic “On Joint Stock Companies”, at least 25% of the company’s net profit must be allocated for the payment of dividends. At the meeting, the shareholders issued with the intention of seeking compliance with the requirements of the law on the payment of dividends to shareholders.