Kuwait-Mubasher: Alargan International Real Estate will hold an ordinary general meeting (OGM) on Monday to discuss the board’s recommendation of distributing 10% cash dividends of the capital or 10 fils per share, the company said in a bourse statement issued Monday.

Alargan’s profits surged 259% to reach KWD 16.73 million in the fiscal year 2015, compared to KWD 4.66 million in 2014.

Furthermore, the company’s shareholders will discuss the board’s proposal of deducting 10% of FY15 net profits to calculate the legal reserve by KWD 1.76 million.

Alargan’s OGM will consider authorising the board to purchase or sell 10% or less from shares, as well as discussing the board’s recommendation of issuing bonds in Kuwaiti dinar or any other currency, subject to the legal maximum level.