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Altijaria board recommends FY10 dividend freeze

ALTIJARIA ALTIJARIA 0.00% 107.00 0.00

Kuwait Stock Exchange (KSE) announces that the board of Commercial Real Estate Co. (Altijaria) endorsed today, Wednesday, 16/03/2011, the financial statements for the fiscal year that ended on 31/12/2010, as follows:

1- Current periods:

Item

FY ended 31/12/10

FY ended 31/12/09

Profit  (KWD)

5.551.428

19.056.592

EPS (fils)

3.14

10.79

Total current assets

53.672.669

64.200.693

Total assets

409.577.067

413.035.351

Total current liabilities

117.815.573

81.880.393

Total liabilities

166.742.206

177.760.151

Total shareholders’ equity

242.834.861

235.275.200

Expenses of dealings with related parties totaled KWD 482.323, with no relevant revenue recorded.

2- Proposed dividend:

The board recommended withdrawing FY10 cash dividend. This proposal is subject to the approval of shareholder meeting and competent authorities.


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