Mubasher: The ordinary general meeting (OGM) of Acico Industries approved the board’s recommendation of paying 10% of the capital as cash dividends or 10 fils per share for the fiscal year 2017.

The approved cash dividends will total KWD 3.01 million, according to a bourse statement on Sunday.

Acico’s shareholders also agreed on distributing 5% of the paid-up capital as bonus shares for FY17 or 5-for-100 shares valued at KWD 1.51 million.

The ex-dividend date of these dividends will be on 10 May, while the distribution date will be on 20 May.

The extraordinary general meeting (EGM) of Acico has approved raising the capital to KWD 31.7 million distributed on 317.5 million shares from KWD 30.2 million distributed on 302.4 million shares.

It is worth noting that Acico posted a decline of 29.1% in profits to KWD 5.13 million in FY17 compared to KWD 7.24 million in FY16.