8 companies pay out dividends, 23 more to go

This year, 31 companies announced to distribute dividends totaling to 94.2 billion MNT for 4.78 billion shares pursuant to Article 46.5 of the Company Law.

A breakdown of dividends to be paid out shows that Gutal JSC will give out the highest amount of dividend – 1,520 MNT per share – and Mongolia Telecom Company and Monos Foods JSC will give out the lowest amount 1 MNT per share.

By total monetary sum, APU JSC has approved to distribute 75.5 billion MNT in dividends, while Khuvsgul Foods JSC’s dividend amount is the lowest, standing at 791,460 MNT in total.

The Resolution No. 28 on Detailed Arrangement of Dividend Distribution, issued by the Financial Regulatory Commission on January 29 this year, stipulates that publicly owned companies must distribute dividends in the form of cash, shares of the company or securities of other person through a licensed intermediary organization such as the Mongolian Central Securities Depository. Accordingly, eight companies had signed an agreement with the Mongolian Central Securities Depository by May 31. These companies paid out dividends of 4.32 billion MNT to 16,507 shareholders who own over 315 million shares of their companies.

The Financial Regulatory Commission also reported on the implementation of the Company Law. Under the law, companies are obligated to hold their annual general shareholders’ meeting before May 1 each year and discuss their previous annual financial report.

As of June 23, 163 registered stock companies had notified about their schedule for the shareholders’ meeting and submitted relevant documents. Reportedly, four companies postponed their shareholders’ meeting and 23 have failed to abide the law by not reporting on their meeting.