Cairo – Mubasher: Egypt Kuwait Holding’s (EKH) general assembly has approved a cash dividend distribution of $0.5 per share to shareholders for 2018, accounting for 20% of the stock’s nominal value.
The dividends will be financed by 40% of the company’s 2018 net profits and by 60% of the prior year’s retained profits, EKH said in a statement to the Egyptian Exchange (EGX).
The general assembly has also endorsed the financial statements for fiscal year ended 31 December 2018.
In February, EKH, listed on both the EGX and Boursa Kuwait, posted a net profit of $95.11 million for FY18, versus $118.7 million in FY17, including minority shareholders’ rights.
