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Hayat shareholders to consider dividend freeze 4 May

Hayat shareholders to consider dividend freeze 4 May
Photo Credit: Arabianeye-Reuters
HAYATCOMM
HAYATCOMM
-1.30% 91.00 -1.20

Hayat Communications’ ordinary and extraordinary general meetings will consider on 4 May the board’s recommendation of freezing dividends for the fiscal year ended 31 December, 2014.

The meetings will include amending some articles of association and bylaws.

Kuwait Stock Exchange (KSE) decided to suspend trading in Hayat’s stock starting from 23 April until the meetings are held.

Hayat posted a growth of 15% in its earnings of the fiscal year 2014, posting a net profit of about KWD 80,900 ($472,800) compared to nearly KWD 70,330 ($237,200) in 2013.

Hayat’s capital totals KWD 9.25 million, distributed on 92.50 million shares with a par value of 100 fils.