Mubasher: The shareholders of Qurain Petrochemical Industries approved during the ordinary general meeting (OGM) on Thursday to distribute 16% of the capital as a cash dividend for fiscal year ended on 31 March 2019.

Qurain Petrochemical will pay 16 fils per share dividend at a total value of KWD 16.56 million.

The company will pay FY dividends on 30 June to the entitled shareholders of record date 25 June.

The shareholders also approved KWD 150,000 remuneration to the board members for last year.

Qurain Petrochemical achieved an increase of 29% in profits to KWD 45.33 million during fiscal year ended on 31 March 2019 compared to KWD 35.2 million in the corresponding period a year ago.