As reported earlier, net income of the state joint stock insurance company Kafolat made up 84.603 million soums in 2010.

General shareholders’ meeting adopted decision to allocate 59.256 million soums to payment of dividends, 16.92 million soums to formation of reserve fund and 8,426 million soums to formation of insurance reserves.

Shareholders adopted decision to pay 8.63 soums per ordinary share and 306.25 soums per preferential share.

Total number of shares, on which dividends are paid, makes up 6,688, 882 ordinary shares and 5,000 preferential shares, the company said.

Shareholders also approved maximum size of announced shares, which the company can issue. In line with the decision, the company received right to issue 1,877,552 ordinary shares with par value of 1,225 soums each. Total volume of emission makes up over 2.3 billion soums.

According to the company, the charter capital of Kafolat made up 8.2 billion soums at the end of 2010.

Founded in March 1997 in line with the governmental resolution, Kafolat state joint stock company is one of the leading insurance companies in Uzbekistan.