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Gulf Insurance to consider 30% dividends end March

Gulf Insurance to consider 30% dividends end March
The dividends will hold an ex-dividend date on 19 April
GINS
GINS
-0.52% 1,920.00 -10.00

Mubasher: Gulf Insurance Group will hold its ordinary general meeting (OGM) on 29 March to discuss the board’s recommendation of distributing 30% cash dividends for the fiscal year 2017.

The group’s board has proposed paying 30 fils per share as dividends for FY17, according to a bourse filing on Sunday.

The dividends will hold an ex-dividend date on 19 April; once approved, the dividends will be distributed on 3 May.

Gulf Insurance’s shareholders will also consider suspending deduction for compulsory reserves as it reached 100% of the capital.

In FY17, Gulf Insurance achieved a net profit of KWD 10.3 million.