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National Investments to pay 8 fils/shr dividends for FY18

National Investments to pay 8 fils/shr dividends for FY18
The dividends will be distributed on 27 June
NINV
NINV
-1.49% 265.00 -4.00

Mubasher: National Investments’ ordinary general meeting (OGM) approved to distribute 8 fils per share as cash dividends to shareholders for the full-year 2018 after offering treasury shares.

Dividends represent 8% of the company’s capital, according to a recent statement to Boursa Kuwait.

The dividends will be distributed on 27 June to the shareholders registered in records on 20 June, the company added.  

The OGM also agreed to deduct KWD 777,610 from net profits to be added to the company’s mandatory reserves.

The extraordinary general meeting (EGM) approved to trim its investment capital to KWD 79.86 million from KWD 87.62 million by writing off 35.18 million treasury shares, along with amending the Articles of Association and the Articles of Incorporation.

National Investments’ profits surged 64% to KWD 5.48 million in the first quarter of 2019, compared to KWD 3.33 million during Q1-18.

In 2018, the company’s profits retreated 29% to KWD 7.37 million from KWD 10.31 million a year ago.