Mubasher: The losses of National Investments Co posted a decline of 38% during the fourth quarter of 2016 as compared to the same period of 2015.

Losses decreased to KWD 5.02 million ($16.4 million) in Q4-16 from KWD 8.1 million ($26.5 million) in Q4-15, according to a bourse statement issued on Wednesday.

During fiscal year 2016, losses shrank by 28.9% to KWD 3.98 million from KWD 5.6 million in FY15.

The board members recommended distributing 5% cash dividends or 5 fils per share for FY16, the statement noted.