Mubasher: The ordinary general meeting (OGM) of KGL Logistics approved the board’s recommendation to distribute 5% of the capital as bonus shares for fiscal year 2017.

KGL Logistics will distribute 5-for-100 shares as a bonus for FY17, with a total value of KWD 3.5 million, according to a bourse statement on Sunday.

The bonus shares will be distributed on 29 July to the shareholders of record date on 22 July.

In FY17, KGL Logistics posted a decline of 0.34% in profits to KWD 5.95 million compared to KWD 5.97 million in the prior year.