Kuwait Real Estate board recommends FY11 dividend freeze
Kuwait Stock Exchange (KSE) announces that the board of Kuwait Real Estate Co. (KREC) gave a nod on Tuesday, 27/3/2012, to financial statements for the FY that ended on 31/12/2011, as follows:
1) Financial results:
Item |
FY ended 31/12/2011 |
FY ended 31/12/2010 |
Profit (loss) (KWD) |
1.009.141 |
(20.711.917) |
EPS (LPS) (fils) |
1.1 |
(22.9) |
Total current assets |
13.736.341 |
12.671.576 |
Total assets |
172.563.967 |
164.624.122 |
Total current liabilities |
11.659.927 |
5.727.285 |
Total liabilities |
58.900.098 |
48.147.272 |
Total shareholders' equity |
113.663.869 |
116.476.850 |
Expenses of dealings with related parties totaled KWD 246.461, with no relative revenue recorded.
2. Proposed dividend
The board recommended withholding dividend for FY11, pending the approval of the shareholder meeting and competent authorities.
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