Mubasher: The ordinary general meeting (OGM) of Independent Petroleum Group (IPG) approved the board’s recommendation to distribute 30% of capital as cash dividends for fiscal year 2017.
IPG will pay 30 fils per share at a total value of KWD 5.65 million, according to a bourse statement on Tuesday.
IPG will pay the cash dividends on 7 March to the shareholders registered on 1 March.
In FY17, IPG achieved a growth of 24.4% in profits to KWD 6.23 million compared to KWD 5.01 million in the previous year.
At the stock level, IPG closed Tuesday’s session at 390 fils.