The ordinary general meeting of Aqar Real Estate Investments approved the board’s recommendation to distribute 6% of capital as a cash dividend for fiscal year 2017.
The Boursa Kuwait-listed company will pay 6 fils per share as dividends, with a total value of KWD 1.27 million, according to a bourse statement on Monday.
Aqar clarified that the dividends will be distributed on 10 April to the entitled shareholders of records registered on 2 April.
During FY17, the company posted a slight increase of 1.1% in profits to KWD 1.76 million compared to KWD 1.78 million in the previous fiscal year.
Aqar’s shareholders have also elected new board members for the coming three years; Bader Saleh Hamad Al Essa, Moses Ali Muhammad Abotaleb, Mohammad Jafar Ghalom Al Haidari, Samir Ibrahim Hussein Habayeb, and Abdullah Jasem Khalid Al Saadoun as a backup member.
At the stock level, Aqar closed Monday’s session 3.33% higher at 77.5 fils.