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Kuwait Gypsum nods to FY16 dividends, delisting

Kuwait Gypsum nods to FY16 dividends, delisting
Kuwait Gypsum has posted a drop of 5.2% in profits in FY16
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Mubasher: The ordinary general meeting (OGM) of Kuwait Gypsum Manufacturing and Trading on Sunday approved distributing 5% of capital as cash dividends for fiscal year 2016.

Kuwait Gypsum will pay 5 fils per share to the shareholders, according to a bourse filing issued on Monday.

The dividends’ maturity date will be on 5 November, while the distribution date will be on 26 November.

Kuwait Gypsum noted that the ex-dividend date of its stock will be on 1 November.

Noteworthy, the Kuwaiti firm has a capital worth KWD 3 million distributed on 30 million shares at a par value of 100 fils each.

In FY16, Kuwait Gypsum has posted a drop of 5.2% in profits to nearly KWD 257,000 compared to around KWD 271,000 in FY15.

The shareholders have approved the board’s recommendation to withdraw from Boursa Kuwait (Parallel Market).