Shareholders of JSC «CLICK» (ticker CLIK) at an extraordinary meeting on September 30 approved dividend payments on ordinary shares.

Payment parameters

  • amount — 1800 soums per share;
  • as a percentage of par value — 180%;
  • payment period — from September 30 to November 28;
  • settlement form — cash;
  • no payments provided for preferred shares.

Based on this ratio, the par value of the share is 1000 soums.

Why 180% of par value is not a return

The figure looks impressive but doesn't mean what it might appear.

The percentage is calculated on the par value — an accounting amount fixed at the time of the company's establishment. It has no relation to the market price of the share.

Actual dividend yield is calculated differently: the dividend amount is divided by the price at which you can buy the share today. If the security trades at, say, 20,000 soums, the yield at a dividend of 1800 soums will be 9%, not 180%.

This is one of the typical pitfalls when reading disclosures. On developed markets, par value is generally considered a technical quantity — companies often set it at a symbolic amount.

What underlies the payment

The decision was made at an extraordinary rather than annual meeting — this practice usually indicates distribution of interim profits or retained earnings from previous periods.

The company is among the country's largest payment service providers. According to customer experience research, digital players in this segment are rated higher by users than traditional banks.

Payment market context

The segment is growing rapidly: card transaction volume increased approximately fivefold over five years, while the number of e-wallets grew from 5 million to nearly 25 million.

Meanwhile, competition is intensifying — the market features payment services, neobanks, and ecosystems.

How to verify yield

Three values are needed for proper assessment:

  • dividend amount per share;
  • current market quote;
  • the date on which the shareholder registry is formed.

The last point matters: those listed in the registry on a specific date have the right to receive the dividend. Buying a share after that date does not grant dividend rights.

You can compare the payment amount with the market price and calculate actual yield in the stocks section.

This material is informational in nature and is not an investment recommendation.