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Osos to consider paying 10 fils/shr dividends mid-March

Osos to consider paying 10 fils/shr dividends mid-March
Osos will consider paying 10 fils per share as dividends for FY17
OSOS
OSOS
7.18% 103.00 6.90

Mubasher: Osos Holding Group Co will hold its ordinary general meeting (OGM) on Sunday, 11 March, to discuss the board’s recommendation of distributing 10% of capital as cash dividends for fiscal year 2017.

Osos will consider paying 10 fils per share as dividends for FY17, at a total value of KWD 1 million, according to a bourse statement on Tuesday.

Cash dividends will be distributed on 29 March to shareholders of records on 28 March.

The OGM will also discuss deducting 10% legal reserve of about KWD 120,060.

During FY17, Osos posted a drop of 60.4% in profits to KWD 1.14 million compared to KWD 2.88 million in FY16.

Earlier on Tuesday, Osos’ stock went up 3% to 103 fils when traded on Boursa Kuwait.