Mubasher: Public Utilities Management Company’s (PUMC) general assembly has approved a cash dividend distribution of 100% or KWD 1.2 million for fiscal year 2018.

PUMC’s net profits increased by 21.3% to KWD 5.7 million last year, compared to KWD 4.7 million in 2017, Kuwait News Agency (KUNA) reported on Monday, citing the company’s chairman.

Net operating income rose by 12.9% year-on-year in 2018, recording KWD 6.4 million from KWD 5.7 million a year earlier, Mohammed Al-Abduljader highlighted.

In the same vein, Al-Abduljader noted that PUMC has signed a contract to develop the second storey of the Gold Market building to be used by the trade minister this year.

PUMC is also working on establishing a leasing area in the immigrant workers’ area in Al-Shadadiya, he added.