Mubasher: The shareholders of Kuwait Foundry have approved, during the ordinary general meeting (OGM) on Monday, the board’s recommendation to distribute 8% of the capital as cash dividends for fiscal year 2018.

Kuwait Foundry will pay 8 fils per each original share on 16 June to the entitled shareholders of record date 3 June, according to a bourse filing on Tuesday.

The shareholders have also elected new board members for the coming three years.

During FY18, Kuwait Foundry posted a decline of 77.4% in profits to KWD 1.15 million from KWD 5.09 million in the past year.