Mubasher: Kuwait Finance House (KFH) achieved a growth of 23.5% in profits during fiscal year 2018 compared to the previous year.

Earnings increased to KWD 227.41 million ($751.1 million) in FY18 from KWD 184.16 million ($608.2 million) in FY17, according to a bourse statement on Wednesday.

During the fourth quarter of FY18, KFH registered an increase of 26% in profits to KWD 58.31 million compared to KWD 46.29 million in Q4-17.

The board members of KFH recommended 20% of capital as cash dividends for FY18 or 20 fils per share at a total of KWD 125.1 million to the entitled shareholders.

Additionally, the board proposed distributing 10% of capital as bonus shares or 10-for-100 shares at a value of KWD 63.42 million.

At the stock level, KFH closed Wednesday’s session 1.3% higher at 624 fils.