On May 31, UzAuto Motors held the first general meeting of shareholders who participated in the company's IPO in February of this year. The main issue of the meeting was to determine the amount of dividends to be paid to shareholders, as well as the form and order of payment.
Azizbek Shukurov, deputy chairman of Uzavtosanoat, Bo Inge Andersson, general director of UzAuto Motors, Kamoliddin Umurzakov, managing director of economics and finance of UzAuto Motors and Farrukhbek Abdusalomov, director of corporate and property relations of UzAuto Motors participated in the event on behalf of the issuer. The quorum of the meeting was 99.81%.
The meeting, contributing to the transparency and trust between the company and its shareholders, became a platform for discussing and approving by voting the amount of dividend payments and a number of other organizational issues.
On the agenda was the distribution to shareholders of 42.5% of the retained earnings of the company for 2022, which in fact in 3 months brought shareholders almost 5% of income, and in annual terms more than 17%.
Taking into account the annual growth of production and export, as well as the expansion of production capacity in export markets and, consequently, profit growth, UzAuto Motors hopes for further positive dynamics of profitability of the company's shares.
We remind, that according to Presidential Decree № PP-90 by January 17, 2022 established that from April 1, 2022 to December 31, 2024 income accrued in the form of dividends on shares of all individuals are exempt from income tax. Income accrued in the form of dividends on shares of legal entities - residents and non-residents of the Republic of Uzbekistan shall be subject to 5% income tax rate.
In accordance with the New Uzbekistan Development Strategy for 2022-2026 approved by President Shavkat Mirziyoyev, UzAuto Motors shares were listed on the Tashkent Stock Exchange on 17 February 2022. It is the first public offering (IPO) in Uzbekistan by a large state-owned company and is considered the first step among large state-owned enterprises in the program of privatization and development of capital market in our republic. It should also be noted that the IPO of UzAuto Motors is the first IPO conducted in the local stock market after the pandemic of coronavirus and the global economic crisis
- 31/05/2023
- Category: News