Mubasher: The ordinary general meeting (OGM) of Human Soft Holding approved the board’s recommendation of distributing 175% of the capital instead of 160% as a cash dividend for fiscal year 2017.

Human Soft will pay 175 fils per share as dividends for FY17, with a total value of KWD 21.3 million, according to a bourse statement on Monday.

The shareholders did not approve the board’s recommendation of distributing 70% of the capital as a bonus share, the Kuwait-based firm noted. 

Human Soft will pay the dividends on 21 May to the shareholders of record date on 17 May.

In FY17, Human Soft achieved a growth of 16% in profits to KWD 28.1 million ($93.72 million) compared to KWD 24.2 million ($80.71 million) in the prior fiscal year.

At the stock level, Human Soft closed Monday’s session at KWD 3.949.