Astana, Kazakhstan, Sept. 18
By Daniar Mukhtarov - Trend:
The price of shares of KazTransOil, a Kazakh company transporting oil, rose by about 60 percent in 1.5 years since their placement on the Kazakhstan Stock Exchange (KASE), according to a message from the company.
"The price of the company's shares has increased by about 60 percent from 725 tenges (nearly $4) to 1130-1140 tenges (about $6) since their placement on the stock exchange in December 2012," the company said.
KazTransOil said that in 2012 its shareholders' dividends stood at 10.34 percent of the placement price, while in 2013 this figure was over 15 percent of the placement price.
In 2012-2013, the company's shareholders were paid dividends totaling over 70 billion tenges, the message said.
"KazTransOil's securities consistently rank first in the KASE shares liquidity ranking - the company's shares account for about 30 percent of the total amount of share trades," the message said.
The company said that many retail investors did not buy shares only one time, and they acquire the securities of the company and other issuers, becoming active participants in the trade.
"The increase in share quotations of the KazTransOil is based primarily on the company's excellent performance in 2013," the company said.
Last year the consolidated volume of the company's oil transportation totalled 67.2 million metric tons, or 2 percent more than in 2012.
KazTransOil's consolidated oil turnover was 45.5 billion metric ton-kilometers, or eight percent more than in 2012.
The message said that in 2013, the company implemented important projects for the modernization and development of the system of main oil pipelines and the oil transportation infrastructure.
Aside from that the company's credit ratings stand at the investment level, and the corporate governance ratings demonstrate continuous improvement of the corresponding system, the message states.
KazTransOil is the largest company in Kazakhstan rendering services in the transportation of oil to the domestic market and for export.
The company owns the largest system of main oil and water pipelines in Kazakhstan.
KazTransOil is assigned as Kazakhstan's national operator of the main oil pipelines in accordance with the Kazakh government's decree No. 1273 dated October 8, 2012.
Edited by CN
