Mubasher: Tamdeen Investment registered a decline of 37.5% in losses during the fourth quarter of 2017 compared to the same period in the previous fiscal year.

Losses shrank to KWD 1.57 million ($5.25 million) in Q4-17 from KWD 2.51 million ($8.39 million) in Q4-16, according to a bourse statement on Thursday.

In FY17, the Kuwait-based Investment company recorded a slight rise of 0.3% in profits to KWD 6.71 million from KWD 6.69 million in FY16.

The board members of Tamdeen recommended a cash dividend of 12% or 12 fils per share for FY17, the statement added.