Mubasher: National Petroleum Services (Napesco) will hold its ordinary general meeting (OGM) on Wednesday, 17 May, to overview the board’s recommendation of distributing cash dividends and bonus shares for fiscal year 2016.

Napesco will discuss paying 80% of capital as cash dividends or 80 fils per share to the entitled shareholders for FY16. The OGM will also consider distributing 73.58% of deferred earnings as bonus shares or 73.58-for-100 shares, according to a bourse filing issued on Wednesday.

During FY16, Napesco achieved a rise of 35.6% in profits to KWD 7.71 million from KWD 5.69 million in FY15.