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Mashaer turns profitable in Q4; dividends proposed

Mashaer turns profitable in Q4; dividends proposed
Photo Credit: Arabianeye-Reuters
MASHAER
MASHAER
0.87% 69.50 0.60

Kuwait-Mubasher: Mashaer Holding showed a positive turn in financials for the fourth quarter in 2015, after posting profits worth KWD 2.02 million ($6.74 million) against losses worth about KWD 7.46 million ($24.89 million) in the corresponding period of 2014.

The company has achieved KWD 2.37 million profits during the fiscal year 2015, against losses worth KWD 6.34 million in 2014.

Mashaer said that Q4 financials resulted from selling investment in an associate at profit worth KWD 1.294 million.

The board of directors has recommended a distribution of 7.5% cash dividends or 7.5 fils per share payout.