Mubasher: The ordinary general meeting (OGM) of Ahli United Bank – Kuwait (AUB Kuwait) approved on Sunday the board’s recommendation to distribute 13% and 5% of the capital as cash dividends and bonus shares, respectively, for fiscal year 2017.

AUB Kuwait will pay 13 fils per share as a cash dividend and distribute 5-for-100 shares as bonus shares totaling 93.55 million shares for FY17, according to a bourse statement on Monday.

The dividends and bonus will be distributed on 25 April to the shareholders of records on 19 April, Kuwait's biggest Islamic lender said. 

AUB Kuwait’s shareholders have also elected new board members for the coming three years; the board will be chaired by Anwar Ali Al Mudhaf.

In FY17, AUB Kuwait achieved an increase of 10.2% in profits to KWD 44.46 million compared to KWD 40.35 million in FY16.