HEISCO’s board proposes 10% dividend payout for FY10
Kuwait Stock Exchange (KSE) announces that the board of Heavy Engineering and Ship Building Co. (HEISCO), in a meeting held on Monday, 28/03/2011, endorsed the financial statements for the fiscal year that ended on 31/12/2010 as follows:
1) Financial results:
Item
|
FY ended 31/12/2010
|
FY ended 31/12/2009
|
Profit (KWD)
|
4,837,309
|
4,866,413
|
EPS (fils)
|
29.59
|
29.77
|
Total current assets
|
48,728,098
|
56,692,985
|
Total assets
|
81,394,203
|
87,892,456
|
Total current liabilities
|
45,344,115
|
58,308,660
|
Total liabilities
|
51,759,292
|
64,820,304
|
Total shareholders’ equity
|
29,634,911
|
23,072,152
|
Expenses of dealings with related parties totaled KWD 361,729, with no related revenue recorded.
2) Proposed dividend:
The board recommended paying cash dividend for FY10 at 10% of par value, or 10 fils per share, to shareholders of record on the general meeting date. The proposal is pending the approval of shareholder meeting and competent authorities.
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