Kuwait-Mubasher: Tamdeen Real Estate posted an increase by 8.5% in its fourth-quarter profits, according to a bourse statement.

Profits reached KWD 856,000 ($2.84 million) in Q4-15, compared to KWD 788,700 ($2.62 million) in Q4-14.

Annual profits stood at KWD 9.86 million ($32.66 million) in 2015, a growth of 33.2% from KWD 7.4 million ($24.51 million) in 2014.

The board recommended cash dividends at 10% of the shares’ par value, equivalent to 10 fils per share, in addition to 5% bonus shares on a 5-for-100 basis.