In late June, Hamkor Bank held a general shareholders meeting to consider results of the bank’s performance in 2006, and set the performance targets for the year 2007.
The decision was reached to pay 26% p.a. dividends on common stock and 40% dividends on preferred stock. The total number of shares currently in circulation comprises 75 million.
During the meeting, shareholders also voted in favour of the additional float of 10 million common shares and 5 million preferred shares to attract additional 1.5 billion soums in capital. The staff of the bank will be allowed to purchase stock for the total of 250 million soums.
Also, it was decided to leave 1.15 billion soums of the year’s profits as retained earnings, and appropriate some 844.5 million soums to the general reserve.