Mubasher: Arkan Al Kuwait Real Estate announced that its ordinary general meeting (OGM) approved the board’s recommendation to distribute 8% of the capital as cash dividends for fiscal year 2018.

The shareholders nodded to pay 8 fils per share as dividends at a total value of KWD 2.03 million, according to a bourse statement on Tuesday.

Arkan Al Kuwait’s OGM also elected a new board of directors for the coming period.

In the fiscal year that ended on 31 October 2018, Arkan Al Kuwait registered a decrease of 20% in profits to KWD 2.87 million compared to KWD 3.58 million in the corresponding period a year ago.