Mubasher: The general assembly of Commercial Real Estate (Al Tijaria) approved the recommended cash dividends distribution of five fils per share or 5% of the share’s nominal value for fiscal year (FY) 2019.
In addition, it approved a bonus distribution of three shares for every 100 shares, representing 3% of the paid-up capital, according to a stock exchange statement on Sunday.
The dividends will be matured to the shareholders registered on records at the end of the maturity date scheduled 20 business days following the assembly’s meeting. The distribution process will begin one business day after the maturity date.
The assembly also approved not to distribute any remuneration to board members for 2019 as proposed.
It is noteworthy that in 2019, net profits of Al Tijaria levelled up by 0.5% annually to stand at KWD 14.58 million ($47.83 million) from KWD 14.50 million ($47.57 million).