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Ship Building shareholders to discuss FY11 dividend plan May 21st

SHIP SHIP 0.64% 784.00 5.00

Kuwait Stock Exchange (KSE) announces that Heavy Engineering and Ship Building Co. (HEISCO) will hold an ordinary shareholder meeting on Monday, May 21st, 11:30 a.m. at the Ministry of Commerce and Industry (MOCI).
Shareholders will look into the board's recommendation on paying cash dividend at 10% of par value or 10 fils per share. Shareholders of record on the general meeting date are entitled to receive this dividend. This recommendation is pending the approval of shareholder meeting and competent authorities. The meeting will also elect a new board for the upcoming three-year term.
As per the Market Committee decision No. 4/2007 on the dates of holding ordinary shareholder meetings, the stock will be halted as of Sunday, 20/5/2012 till the meeting is held.


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