Mubasher: Kuwait Portland Cement Company’s ordinary general meeting (OGM) on Thursday approved distributing cash dividends worth KWD 10.02 million ($33 million) at 100 fils per share for the full fiscal year 2018.

The eligibility of dividends, which represent 100% of the firm’s capital, will be for shareholders registered in the company’s registries by the end of maturity date on 28 April, according to a statement to Boursa Kuwait.

The dividends will be paid on 6 May, the Kuwait-based cement producer said. 

Kuwait Portland’s extraordinary general meeting (EGM) agreed to amend article 14 of its articles of association to raise the members of the board of directors to nine instead of eight.

 The cement maker last reported a 150% year-on-year increase in net profits in the fourth quarter of 2018, reaching KWD 2.49 million, compared to KWD 997,000.