Kuwait-Mubasher: Kuwait Food – Americana posted a year-on-year decrease of 14.8% in profits for the fourth quarter in 2015, due to higher operating costs and lower revenues from real estate investments, according to a recent statement.
Americana reported earnings worth KWD 8.68 million ($28.73 million) in Q4-15, compared to KWD 10.19 million ($33.73 million) in Q4-14.
During the fiscal year 2015, the Kuwait-listed company netted KWD 43.9 million, 15.6% lower from KWD 52.02 million in FY14.
The board has recommended distribution cash dividends at 100% of the share’s nominal value or 100 fils per share, after excluding the treasury shares which stand at 10.85 million.
Americana’s board members also proposed a distribution in kind that forms 133% of the nominal value after excluding the treasury shares. The distribution is equivalent to a total of KWD 52 million.
Americana stock ended at KWD 2.5 in Thursday’s session with a rise of 3.31%, after 246,800 shares were traded at around KWD 615,700.
