Kuwait – Mubasher: Arkan Al Kuwait Real Estate Company announced that its general meetings will be held on Tuesday to discuss the board of directors’ proposal to distribute 7% cash dividends, totalling KWD 1.65 million, and 5% bonus shares for the fiscal year ended 31 October, 2015.
The ordinary general meeting will elect a new board for the next three years and mandate it to trade in no more than 10% of the company’s shares.
Meanwhile, the extraordinary general meeting will consider increasing the authorized and paid-up capital by KWD 1.2 million to KWD 25.12 million from KWD 23.92 million through distributing bonus shares.
The company’s annual profit rose by 12.2% to KWD 4.15 million in FY15, versus KWD 3.7 million in FY14.
