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KazMunaiGaz Pays $947 Million Dividend to Sovereign Wealth Fund

KazMunaiGaz National Co., Kazakhstan’s state energy producer, paid 142 billion tenge ($947 million) in 2011 dividends to the sovereign wealth fund Samruk-Kazyna, its owner.

KazMunaiGaz paid 293.35 tenge a share on Sept. 14, the Astana-based oil and gas producer said today in a statement on the Kazakhstan Stock Exchange website. The company’s 484 million ordinary shares are all held by Samruk-Kazyna, according to the bourse’s website.

In March, KazMunaiGaz said it would raise $2.5 billion selling bonds to the National Oil Fund in 2013, removing the need to borrow abroad this year. The company has about $3.1 billion of debt coming due by the end of next year, out of a total of $15 billion outstanding, according to data compiled by Bloomberg. Last year, net income rose 38 percent to 422.5 billion tenge.

KazMunaiGaz plans to increase investments 7 percent to $3.8 billion this year, followed by $2.3 billion in 2013, according to Raiffeisen Research.

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