Mubasher: The ordinary general meeting (OGM) of Mabanee Co. approved the board’s recommendation to distribute cash dividend and bonus share for fiscal year 2018, according to a recent bourse disclosure.

The shareholders agreed to distribute 12% of the capital as a dividend for FY18, an amount of 12 fils per share at a total of KWD 11.53 million.

Additionally, the OGM also approved distributing 6% of the capital as bonus shares for FY18, equivalent to 6-for-100 shares or a total of 59.01 million shares at a value of KWD 5.9 million.

The dividends will be distributed on 24 April to the shareholders of record date on 21 April 2019.

The shareholders also approved electing a new board of directors for the coming three years.

During FY18, Mabanee achieved a growth of 6.9% in profits to KWD 52.5 million compared to KWD 49.2 million in FY17.