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National International to pay 5 fils/shr dividends for FY18

National International to pay 5 fils/shr dividends for FY18
Dividends will be distributed on 19 June
9.83% 72.60 6.50

Mubasher: National International Holding’s (NIH) ordinary general meeting (OGM) approved distributing a cash dividend of 5 fils per share to shareholders for the full fiscal year 2018 after excluding treasury stocks during a meeting held on Monday, 20 May.

Distributions represent 5% of the company’s capital, according to a recent statement to Boursa Kuwait.

The eligibility of dividends shall be for the shareholders registered in the company’s registries by the end of the eligibility date after 30 days of the date of the OGM’s meeting.

 Dividends will be distributed on 19 June, the company, listed on Boursa Kuwait and the Dubai Financial Market (DFM), said. 

The OGM also agreed to deduct 10% of profits to be added to legal reserves, transferring 10% of profits to voluntary reserves, and paying KWD 40,000 as a remuneration to the board members.

In the first quarter of 2019, the company’s profits levelled up 11.1% to KWD 534,870 from KWD 481,450 in Q1-18.

The firm’s profits surged 67.9% to KWD 2.37 million in 2018, compared to KWD 1.37 million a year earlier.