Mubasher: The ordinary general meeting (OGM) of Palms Agro Production increased the board’s recommendation of cash dividends for fiscal year 2017.

The shareholders raised FY17 dividends to be 10% instead of 5% of the capital, according to a bourse statement on Wednesday.

Palms Agro will pay on 28 June a per-share dividend of 10 fils per for FY17, with a value of nearly KWD 523,160, to the shareholders of record date on 21 June.

The shareholders also elected new board members on Tuesday.

In FY17, Palms Agro incurred a loss of around KWD 518,720 against profits worth nearly KWD 645,500 in the prior fiscal year.