Mubasher: Kuwait Foundry’s board of directors has recommended the distribution of semi-annual dividends valued at 40 fils per share or KWD 2.893 million to shareholders

The dividends will be deducted from the retained earnings to shareholders registered in the company by the end of the maturity date to be set by the general assembly, the company said in a statement to Boursa Kuwait on Sunday.

The board also suggested to regularly hold the ordinary general meeting to endorse recommendations, the company added.

Additionally, Kuwait Foundry highlighted that the proposed dividends will have an impact on its financial position.

It is worth noting that Boursa Kuwait had suspended trading on Kuwait Foundry’s stock since Tuesday, 3 September until Monday, 9 September.