Mubasher: Kuwait-based Boubyan Bank on Sunday said that its shareholders have approved the board of directors’ recommendation to distribute 8 fils per share, or 8% of the share’s capital, as a cash dividend for the full fiscal year 2018.

The Kuwaiti lender will also distribute 5% bonus shares or 5-for-100 shares, according to a statement.

The Kuwaiti bank achieved a remarkable growth last year in line with its strategic plans, Boubyan Bank’s chairman Mahmoud Al Fulaij said.

In February, Boursa Kuwait-listed lender announced receiving the Capital Markets Authority’s (CMA) approval for increasing its capital by 15.75%.

Boubyan Bank last reported a 17.9% year-on-year profit growth for the full year 2018, reaching KWD 56.11 million, up from KWD 47.61 million ($157.4 million).