Mubasher: The ordinary general meeting (OGM) of Al Ahli Bank of Kuwait (ABK) approved the board’s recommendation to distribute 12% of capital as a cash dividend for fiscal year 2017.

The Kuwait-based lender will pay 12 fils per share as dividends to the entitled shareholders for FY17, according to a bourse statement on Sunday.

Dividends will be paid to the shareholders registered on the maturity date 1 April, while the distribution date will be on 3 April.

ABK’s shareholders also nodded to issuing bonds in the Kuwaiti Dinar or any other currency with authorising the board to determine the maturity period of these bonds in addition to the par value and interest rate.

It is worth noting that in FY17, ABK achieved a growth of 9.8% in profits to KWD 35.66 million compared to KWD 32.47 million in the previous year.