Kazakh KMG EP Proposes No Dividend for 2015

Reuters

ALMATY, March 31 (Reuters) - State-controlled Kazakh oil firm Kazmunaigas Exploration and Production (KMG EP) said on Thursday its board has recommended paying no dividend for 2015.

"The decision not to pay dividends is caused by sharp decline in oil prices since end of 2014, as a result of which the company's cash flow and operating profit turned negative," it said in a statement.

(Reporting by Olzhas Auyezov; editing by Katya Golubkova)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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