UzAuto Motors reports 8.5 trillion UZS profit after issuing new dividends
UzAuto Motors Approves New Dividend Payment Plan
UzAuto Motors has recently announced the approval of a new dividend payment plan, in which the company will retain 8.5 trillion UZS, or 97% of its undistributed profit. This decision was made public on the Unified Corporate Information Portal of the National Agency of Project Management of Uzbekistan (NAPP).
The approval of the profit distribution program took place during an extraordinary general meeting of shareholders on January 10, where 99.83% of the shareholders voted in favor of the resolution. Only 0.1% of shareholders abstained from voting.
A total of 264.01 billion UZS will be allocated for dividend payments, amounting to 975 UZS per ordinary share, as recommended by the supervisory board. The scheduled payout dates are between January 10 and March 11.
As of the end of September 2024, UzAuto Motors had an undistributed profit of 8.84 trillion UZS. Following the dividend distribution, 8.57 trillion UZS, or 97% of the total profit, will remain within the company.
Previously, in October, the company had announced a dividend payment of 167.88 billion UZS, equal to 620 UZS per share. At that time, the company’s undistributed profit as of July 1 was 8.54 trillion UZS, showing a 28.8% increase compared to the previous year.
During the first half of 2024, UzAuto Motors generated 1.9 trillion UZS in profit, representing a notable 65% year-over-year increase. Additionally, the company reported a revenue of 23.42 trillion UZS, while managing to reduce production costs by 1% to 18.97 trillion UZS.
