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KFH’s OGM approves KWD 125m dividends for 2018

KFH’s OGM approves KWD 125m dividends for 2018
The Kuwaiti lender’s EGM approved raising capital to 6.977 billion shares
KFH
KFH
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Mubasher: Kuwait Finance House (KFH) on Tuesday announced that its shareholders had approved distributing a cash dividend of 20% of the share’s nominal value, or 20 fils per share, with a total value of KWD 125.1 million for 2018 during an ordinary general meeting (OGM) held in the previous day.

KFH’s OGM also approved distributing 634.226 million shares, or 10%, of its capital as bonus shares, according to a statement to Boursa Kuwait.

Additionally, the Kuwaiti lender’s extraordinary general meeting (EGM) approved raising capital to 6.977 billion shares, from 6.342 billion shares through distributing bonus shares, which will raise the bank’s capital to KWD 697.65 million, from KWD 634.23 million.

For the full-year 2018, KFH’s profits rose 23.5% to KWD 227.41 million, from KWD 184.16 million in the prior year.

By 11:53 am Kuwaiti time, KFH’s stock went up 0.47% to 643 fils.