Kuwait Insurance board proposes 20% cash dividend for FY10
Kuwait Stock Exchange (KSE) announces that the board of Kuwait Insurance Co.( KIC), in a meeting held today, Wednesday, 09/02/2011, endorsed the financial statements for the FY that ended on 31/12/2010 as follows:
1) Financial results
| Item
|
FY ended 31/12/2010
|
FY ended 31/12/2009
|
| Profit /Loss (KWD)
|
3.896.914
|
(6.235.487)
|
| EPS /LPS (KWD fils)
|
20
|
(32.15)
|
| Total current assets
|
47.998.666
|
42.324.140
|
| Total assets
|
127.370.270
|
112.712.401
|
| Total current liabilities
|
15.984.454
|
16.718.389
|
| Total liabilities
|
74.141.292
|
74.143.008
|
| Total shareholders’ equity
|
53.228.978
|
38.569.393
|
Revenue from dealings with related parties totaled KWD 2.568.717, with no related expenses recorded.
2) Proposed dividend
The board recommended paying dividend at 20% of the stock’s par value, or 20 fils per share for FY that ended on 31/12/2010, to shareholders of record on their meeting date. This proposal is pending the approval of competent authorities and shareholder meeting. The dividend will be financed from the company’s FY11 profit.
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