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Kuwait Investment nods to 20% dividends for FY17

Kuwait Investment nods to 20% dividends for FY17
Kuwait Investment achieved a surge of 313.1% in profits in FY17
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Mubasher: The ordinary general meeting (OGM) of Kuwait Investment approved the board’s recommendation to distribute 20% of the capital as cash dividends for fiscal year 2017.

Kuwait Investment will pay 20 fils per share as a capital at a total value of KWD 11 million, according to a bourse statement on Wednesday.

The shareholders also approved deducting 10% of the net profit or KWD 1.74 million for the compulsory reserve.

Kuwait Investment’s OGM elected new board members for the coming three years from 2018 to 2020.

In FY17, Kuwait Investment achieved a surge of 313.1% in profits to KWD 16.44 million compared to KWD 3.98 million in the previous fiscal year.