Mubasher: The ordinary general meeting (OGM) of Kuwait Insurance approved the board’s recommendation of distributing 25% of the par value of shares as cash dividend for fiscal year 2018, after excluding treasury shares.

Kuwait Insurance will pay 25 fils per share as dividends for FY18, at a total value of KWD 4.62 million, according to a recent bourse disclosure.

It is noteworthy that the insurance company has a capital of KWD 19.40 million at a par value of 100 fils per share.

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

During FY18, Kuwait Insurance reported a growth of 10.7% in profits to KWD 8.97 million compared to KWD 8.1 million in FY17.