Tavantolgoi JSC distributes 90 percent of net profit

Tavantolgoi JSC listed on Tier-I of MSE decided to distribute 90 percent of net profit of 2019 to its shareholders. In particularly, R.Seddorj CEO of the company informed that they issued a decision to distribute MNT 821 per share at the meeting of shareholders.

The company distributed MNT 853 per share or MNT 44.9 billion last year. Sales revenue of the company rose by around 16 percent and reached MNT 263.5 billion in 2019. Whereas net profit of the company decreased by approximately 9 percent and totaled MNT 48 billion.

Tavantolgoi JSC has sold around 600 thousand tons coal since the beginning of this year, which decreased by two times comparing to the same period of last year. Coal mining and sales of the company is likely to continue but its soils stripping has been suspended since April 16, 2020.

Share price of the company decreased by around 20 percent from the beginning of 2020 and closed at MNT 4,926.

Source: bloombergtv.mn