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Kuwait Investment incurs losses in Q4; board proposes 10% dividends

Kuwait Investment incurs losses in Q4; board proposes 10% dividends
Kuwait Investment registered a decrease of 40.1% in profits in FY18
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Mubasher: Kuwait Investment registered a loss of KWD 1.69 million ($5.57 million) in the fourth quarter of 2018 against profits worth KWD 242,000 ($796,880) in the same period last year.

During fiscal year 2018, Kuwait Investment registered a decrease of 40.1% in profits to KWD 9.85 million from KWD 16.44 million in the previous year, according to a bourse statement on Monday.

Kuwait Investment noted that the decline in annual income is attributed to lower revenue due to a downward performance in local market.

The board members of the company have recommended distributing 10% of capital as cash dividends for FY18 or 10 fils per share at a total value of KWD 5.48 million.