Mubasher: National Industries Group Holding’s shareholders approved the board’s recommendation to distribute KWD 16.32 million ($53.8 million) at 12 per share as cash dividends for 2018 during a general assembly meeting held on Thursday.

The general assembly also agreed to distribute bonus shares at 5% of paid-up capital or 5-for-100 shares for FY18, according to a filing to Boursa Kuwait.

The eligibility of dividends shall be for the shareholders registered in the group’s registries by the end eligibility date, 20 May.

The KWD 16.32 million dividends will be distributed on 30 May.

The group, which is listed on Boursa Kuwait and the Dubai Financial Market (DFM), said the general assembly also elected a new board of directors for the next three years.

In the fourth quarter of 2018, the firm turned to losses after suffering KWD 12.43 million, against a profit of KWD 16.81 million in Q4-17.