By: Ahmed Awad
Kuwait-Mubasher: The ordinary general meeting (OGM) of Boubyan Petrochemical on Tuesday approved a cash distribution of 40%, amounting to 40 fils per share for the fiscal year ended 30 April 2016.
Dividends for the period total KWD 20.6 million, the company said.
The petrochemical company reported a profit of KWD 22.84 million for the year ended 30 April 2016, down 17.1% year-on-year from KWD 27.54 million.
The company’s stock grew 3.8% half an hour before the end of Tuesday’s session on the Kuwait Stock Exchange (KSE) to 550 fils, after 1.3 million shares were traded at a turnover of KWD 705,700.
Translated by: Nada Adel Sobhi
