Mubasher: The ordinary general meeting of (OGM) Heavy Engineering Industries and Shipbuilding (HEISCO) approved the board’s recommendation to distribute 20% of the capital as cash dividends for fiscal year 2017.

HEISCO will pay 10 fils per share to the entitled shareholders, with a total value of KWD 3.61 million, according to a bourse statement on Tuesday.

The dividends will be paid on 6 June to the shareholders of record date on 31 May 2018.

It is noteworthy that HEISCO posted a decline of 4.1% in profits to KWD 6.07 million in FY17 from KWD 6.33 million in FY16.

At the stock level, HEISCO closed Tuesday’s session 3.5% higher at 240 fils.