Mubasher: The ordinary general meeting (OGM) and extraordinary general meeting (EGM) of Acico Industries approved distributing cash dividends and bonus shares for fiscal year 2016.
The company will pay 15% cash dividends or 15 fils per share to the entitled shareholders, with a total value of KWD 4.3 million ($14.1 million), according to a bourse statement issued on Thursday.
Acico will also distribute 5% bonus shares or 5-for-100 shares.
During FY16, profits shrank by 13.62% to KWD 7.24 million from KWD 8.38 million in FY15.
The company’s shareholders approved raising the capital by KWD 1.44 million to total KWD 30.24 million from KWD 28.8 million, the statement noted.
At the stock level, Acico closed Thursday’s session at 305 fils, after 131,000 shares were traded at a value of about KWD 39,300.
