Mubasher: The ordinary general meeting (OGM) of Kuwait Foundry approved on Tuesday the board’s recommendation to distribute 30% of the capital as cash dividends for fiscal year 2017.

The Boursa Kuwait-listed company will pay 30 fils per share to the entitled shareholders at a total value of KWD 4.62 million, according to a bourse statement on Tuesday.

Kuwait Foundry clarified that the dividends will be distributed on 6 June to the shareholders of record date on 29 May.

In FY17, Kuwait Foundry achieved a profit of KWD 5.09 million against a loss of KWD 3.05 million in FY16.

At the stock level, Kuwait Foundry close Tuesday’s session at 248 fils.