Mubasher: The shareholders of Shuaiba Industrial approved the board’s recommendation to pay 10% of the company’s capital as cash dividend for fiscal year 2018.

The ordinary general meeting (OGM) held on Sunday agreed to pay 10 fils per share to the entitled shareholders as a dividend for FY18 at a total value of KWD 992,400.

Shuaiba Industrial will pay the cash dividend on 26 May to the shareholders of record date on 19 May, according to a bourse disclosure on Sunday.

During FY18, the company posted a decrease of 47.4% in profits to KWD 1 million from KWD 1.9 million in FY17.