Kuwait – Mubasher: The ordinary general meeting (OGM) of Global Investment House on Thursday approved distributing a total of KWD 22.9 million as cash dividends to the entitled shareholders, according to a recent statement.

The dividends will be paid through decreasing the capital by cancelling 229.065 million shares at 100 fils per each share.

Following the reduction process, the authorised and paid-up capital will reach almost KWD 57 million, the statement added.

The shareholders also approved deducting 10% of the net profits to be transferred to the optional reserves account.

During fiscal year 2016, Global Investment achieved a net profit of KWD 3.5 million, with revenues of KWD 14.7 million.