Mubasher: The ordinary general meeting (OGM) of Mobile Telecommunications (Zain) approved the board’s recommendation to distribute 30% of the capital as cash divined for fiscal year 2018.

The leading telecom company in Kuwait, Zain, will pay 30 fils per share on 10 April to the entitled shareholders of record date on 3 April, according to a bourse statement on Wednesday.

It is noteworthy that Zain’s capital stands at KWD 432.71 million; the total value of the FY18 dividend is KWD 129.81 million, according to data compiled by Mubasher.

During FY18, Zain posted an increase of 23% in profits to KWD 196.5 million compared to KWD 159.82 million in FY17.

At the stock level, Zain closed Wednesday’s session 1.08% higher at 469 fils, after 4.52 million shares were exchanged at a value of KWD 2.11 million.