Kuwait-Mubasher: Alargan International Real Estate’s ordinary general meeting (OGM) on Monday agreed on distributing 10% cash dividends of the capital or 10 fils per share for the fiscal year 2015, the company said in a bourse statement.

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

The OGM has approved the board’s proposal of deducting 10% of FY15 net profits to calculate the legal reserve by KWD 1.76 million.

Moreover, the shareholders agreed on authorising the board to purchase or sell 10% or less from shares.

The statement added that the OGM approved the board’s recommendation of issuing bonds in Kuwaiti dinar or any other currency, subject to the legal maximum level.