Kuwait - Mubasher: Al Ahleia Insurance on Wednesday said its board proposed a cash dividend to shareholders of 35 fils per share for the fiscal year 2016.
Dividends represent 35% of the capital and total KWD 7 million, the company said in a statement to Boursa Kuwait.
Shareholders registered at the end of trading of the general meeting date will be entitled to the distributions, it added, but no date was set for the meeting.
The dividends for 2016 are equivalent to those approved and distributed by the company for 2015.
Earlier on Wednesday, Al Ahleia reported a 125.9% surge in profits for the fourth quarter of 2016 to KWD 2.87 million ($9.36 million), compared to KWD 1.27 million ($4.15 million) in the same period of 2015.
Full-year profits, however, were down 19.16% to KWD 9.05 million from KWD 11.19 million in FY15.
