Mubasher: Gulf Cable and Electrical Industries’s general assembly has approved the board’s recommendation to distribute cash dividends of KWD 5.67 million at 27 fils per share for the full fiscal year 2018.

Dividends represent 27% of the firm’s capital, according to a statement to Boursa Kuwait on Thursday.

Dividends will be eligible for shareholders registered in the company’s registries by the end of the eligibility date on 18 April, while the distributions will be paid on 25 April.

Gulf Cable and Electrical Industries’s shareholders also agreed to distribute a KWD 310,000 remuneration for the board members, along with electing new members for the coming three years.

Earlier on March, Gulf Cable and Electrical Industries reported a 10.6% drop in profits during the fourth quarter of 2018, logging KWD 1.01 million, compared to KWD 1.13 million during Q4-17.