Mubasher: Kuwait Telecommunication Co’s (Viva) shareholders on Wednesday have approved distributing a cash dividend of 40 fils per share, or 40% of the share’s nominal value, for the full fiscal year 2018.

Dividends will be eligible for shareholders registered in the firm’s registries by the end of eligibility date on 14 April, while the value will be distributed on 21 April, according to a statement.

VIVA plans to enhance its main business activities, boost market capitalisation, and raise profits this year, CFO Mohammed AlAssaf said.

The Kuwaiti telecoms provider’s profits levelled up 17.8% to KWD 50.42 million by the end of 2018, from KWD 42.8 million in the prior year.

VIVA’s stock inched up 0.96% to close Wednesday’s trading session at 845 fils after 9,400 shares were exchanged, generating a turnover of KWD 7,900.