Mubasher: National Industries suffered losses of KWD 2.72 million ($8.88 million) during the fourth quarter of 2016 against profits of KWD 884,000 ($2.89 million) in the same period of 2015.

During the fiscal year, earnings decreased by 90.1% to total about KWD 773,930 from KWD 7.79 million in FY15, according to a bourse statement issued on Thursday.

The board members recommended a distribution of 10% cash dividends or 10 fils per share for FY16.

At the stock level, National Industries ended Thursday’s session 4.76% lower at 200 fils.