Kazatomprom, the world’s largest uranium producer, reported net profit of 13.9 billion tenge (approximately $27.9 million) in the first quarter of 2026, according to the company’s unaudited financial statements. The figure represents a 56% decline compared with the same period in 2025.
Read also: Why KazMunayGas and Kazatomprom are Kazakhstan’s ultimate cash cows.
The company’s revenue declined 28% year over year to 154.2 billion tenge, driven by a 40% drop in sales volumes.
At the same time, the average price of natural uranium increased 12% in January-March to $61.33 per pound.
Currency fluctuations affect results
The company said its financial results were also affected by exchange-rate movements. During the first quarter, the U.S. dollar weakened about 5% against the tenge, falling to 478.77 tenge by the end of March.
Kazatomprom’s retained earnings totaled 2.28 trillion tenge as of the end of March 2026.
Investments in debt securities
During the first quarter, the group invested 125.88 billion tenge in short-term U.S. Treasury securities with maturities of less than one year. It also invested 47.87 billion tenge in similar securities issued by the National Bank of Kazakhstan.
Notably, Kazatomprom shareholders approved the payment of 335.2 billion tenge in dividends for 2025 at the company’s annual general meeting held May 26, the company previously announced.
The dividend payment will amount to 1,292.27 tenge per common share. One global depositary receipt (GDR) is equivalent to one common share.
Dividend payments to begin in July
Dividend payments are scheduled to begin July 28.
The shareholder register for common shares will be finalized at 12 a.m. Astana time on July 27. For GDR holders, the record date will follow the close of trading on July 24.
Payments for common shares will be made in tenge, while GDR holders will receive payments in U.S. dollars based on the prevailing exchange rate.
