Coal mining company Karazhyra has refused to pay dividends on ordinary shares for 2025. The general meeting of shareholders decided to leave all accumulated undistributed net profit amounting to 25.05 billion tenge at the company's disposal. This was reported by Qazaqyia.kz citing Kursiv Media.
The company published the document with the decisions on the Kazakhstan Stock Exchange (KASE).
In 2025, the coal miner's financial indicators were more modest than in 2024: Karazhyra's net profit amounted to 3.94 billion tenge. For comparison: according to the results of 2024, the enterprise's net income was 7.37 billion tenge (2.3 times higher than the 2023 figure of 3.08 billion tenge).
The development of the eponymous coal mine in the Abai region, according to the 2025 financial statements, is controlled by a group of well-known Kazakh businessmen.
Karazhyra extracts coal by open-pit method in the Abai region. In 2024, the volume of production at the mine reached 7.5 million tonnes, and revenue exceeded 73.39 billion tenge, the main share of which was sales in the domestic market of Kazakhstan, as well as export supplies to Russia, Kyrgyzstan and Lithuania. In 2025 – 73.98 billion tenge.
The refusal of dividends may be related to the need to maintain the company's financial stability and finance future investment projects. However, no official comments have been provided.
The main activity of Karazhyra is the development of a coal mine in the Abai region. Most of the enterprise's products are sold on the domestic market, the rest is exported to Russia, Kyrgyzstan and Lithuania.
The significant decrease in net profit in 2025 (3.94 billion tenge versus 7.37 billion tenge in 2024) may be due to difficulties in the coal market or increased costs, although the company has not made official statements on this matter.
The full composition of shareholders is not disclosed, but the statements mention control by a group of businessmen.