Mubasher: Al Mazaya Holding will hold its ordinary general meeting (OGM) on Wednesday, 28 March, to discuss the board’s recommendation to distribute 8% of capital as a cash dividend for fiscal year 2015.
The board members have proposed paying 8 fils per share as dividends for FY17 at a total value of KWD 5.42 million ($18.11 million), according to a bourse statement on Thursday.
Al Mazaya, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), noted that the recommended dividends will be distributed on 24 April to the shareholders registered on 12 April.
In FY17, the company reported a decline of 29.6% in profits to KWD 7.22 million ($24.13 million) compared to KWD 10.25 million ($34.25 million) in FY16.
