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Kuwait Real Estate approves 2019 bonus shares

Kuwait Real Estate approves 2019 bonus shares
The company will grant a remuneration of KWD 40,000 to board members
KRE
KRE
0.12% 84.00 0.10

Mubasher: Kuwait Real Estate’s general assembly on Wednesday consented to the proposed bonus share distribution of five treasury shares for every 100 shares for fiscal year (FY) 2019, representing 5% of the capital.

The bonus issue will be matured to shareholders at the end of the maturity date scheduled after 15 business days from the assembly’s meeting date, while the distribution process will begin five business days later, according to a stock exchange statement.

A remuneration of KWD 40,000 was approved to board members for 2019.

It is noteworthy that in 2019, the real estate developer achieved KWD 7.05 million worth of profits, up by 4.4% when compared to KWD 6.7 million in the previous year.