Mubasher TV
Contact Us Advertising   العربية

Boubyan Bank’s shareholders nod to KWD 26m cash dividends

Boubyan Bank’s shareholders nod to KWD 26m cash dividends
Market share from domestic finance increased to 9.31% in 2019
BOUBYAN
BOUBYAN
0.65% 620.00 4.00

Mubasher: The ordinary general meeting (OGM) of Boubyan Bank has approved the board’s recommendation concerning the distribution of cash dividends worth KWD 25.95 million or nine fils per share for the fiscal year ended 2019, representing 9% of the share’s nominal value. 

During its meeting, the OGM consented to the proposed bonus share distribution of 144.203 million shares at KWD 14.42 million or 5-for-100 shares, representing 5% of the bank’s issued and paid-up capital, according to a bourse statement on Sunday.  

Generally, Boubyan Bank's market share from local finance increased to around 9.31% in 2019 when compared to 8.57% by 2018 year-end, the bank’s chairman, Mahmoud Youssef Al Fulaij, said, adding that the Kuwaiti bank’s share from personal finance exceeded 13%.  

Last year, the net profits of Boubyan Bank grew by 12% annually at KWD 62.65 million when compared to KWD 56.11 million.