GYPSUM
Mubasher: The ordinary general meeting (OGM) of Kuwait Gypsum Manufacturing and Trading on Sunday approved distributing 5% of capital as cash dividends for fiscal year 2016.
Kuwait Gypsum will pay 5 fils per share to the shareholders, according to a bourse filing issued on Monday.
The dividends’ maturity date will be on 5 November, while the distribution date will be on 26 November.
Kuwait Gypsum noted that the ex-dividend date of its stock will be on 1 November.
Noteworthy, the Kuwaiti firm has a capital worth KWD 3 million distributed on 30 million shares at a par value of 100 fils each.
In FY16, Kuwait Gypsum has posted a drop of 5.2% in profits to nearly KWD 257,000 compared to around KWD 271,000 in FY15.
The shareholders have approved the board’s recommendation to withdraw from Boursa Kuwait (Parallel Market).