Mubasher: The ordinary general meeting (OGM) of National Petroleum Services (Napesco) on Wednesday approved the board’s recommendation to distribute 60% of capital as cash dividends for fiscal year 2017.

Napesco will pay 60 fils per share as a cash dividend for FY17, according to a bourse statement on Thursday.

The dividends will be distributed on 4 April to the shareholders registered in records on 28 March.

In FY17, the petroleum services provider achieved a growth of 30.1% in profits to KWD 10.02 million compared to KWD 7.7 million in FY16.