Published
06/30/2025, 13:18Despite record profits in 2024, Uchkun OJSC, which is majority owned by the state, has still not decided whether to pay dividends to shareholders.
At the end of last year, the company reported a net profit of 771.9 million som, compared to a loss of 4.2 million som in 2023. However, unlike more than 60 other joint-stock companies that have already made decisions on profit distribution, Uchkun remains among those that have not yet fulfilled their dividend obligations.
"According to the law, joint-stock companies are required to allocate at least 25% of their net profit to dividends. However, Uchkun has not done so," emphasizes the Kyrgyz Stock Exchange — BTS.
Taking into account the current legislation, the minimum amount of dividends payable to shareholders, including 528 individuals and four legal entities, including the Presidential Administration with a 98.454% stake, Uchkun, is almost 193 million soms. This is approximately 5.4 soms per share — a total of 35.7 million shares are in circulation.
The reasons why the joint-stock company has not yet decided on dividends are unknown. However, according to the law on joint-stock companies, the right not to pay dividends is granted only in exceptional cases: if there are signs of bankruptcy, as well as other restrictions that may be provided for certain types of companies.
But perhaps it is much simpler than that. At the annual general meeting at the end of April, the shareholders did not approve the CEO's report on financial and economic activities for 2024. This, in turn, could have become an obstacle to the distribution of profits.
