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Kuwait Building Materials nod to FY16 dividends

Kuwait Building Materials nod to FY16 dividends
Photo Credit: Arabianeye-Reuters
KBMMC
KBMMC
-7.00% 136.00 -10.00

Mubasher: The ordinary general meeting (OGM) of Kuwait Building Materials Manufacturing approved the board’s recommendation of distributing a cash dividend of 7% for fiscal year 2016.

The company will pay 7 fils per share to the entitled shareholders, with a total value of about KWD 212,230 for the fiscal year, according to a bourse filing issued on Wednesday.

During FY16, earnings shrank by 48.36% to total about KWD 230,820 as compared to around KWD 446,940.