Mubasher: The shareholders of Kuwait Real Estate approved the board’s recommendation of distributing 5% bonus shares for fiscal year 2018.

Kuwait Real Estate will distribute on 29 May 5 treasury shares for every 100 shares as a bonus to the entitled shareholders of record date 22 May.

Distributing the bonus for FY18 will not result in any rise in the capital nor the issued shares, which stand at 947.37 million, the company said in a bourse disclosure on Wednesday.

Furthermore, Kuwait Real Estate shareholders approved, during the ordinary general meeting (OGM), paying KWD 40,000 worth of remuneration for FY18.

During the past fiscal year, Kuwait Real Estate achieved KWD 6.75 million profits, 204.1% higher than KWD 2.22 million in FY17.