Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Ras Al Khaimah White Cement (RAK White Cement) approved on Thursday the board’s recommendation to distribute 5% of capital as cash dividends for the fiscal year 2017, according to a bourse statement on Thursday.

The maker and distributor of white cement, which is listed on both Boursa Kuwait and the Abu Dhabi Securities Exchange (ADX), will pay 5 fils per share to the entitled shareholders, at a total value of AED 25 million, based on the data gathered by Mubasher.

During FY17, the preliminary financial statements of RAK White Cement reported a decline of 27.6% in profits to AED 30.42 million compared to AED 42 million in FY16.

It is noteworthy that RAK White Cement’s capital stands at AED 500.16 million distributed on 500.16 million shares.