Mubasher: The shareholders of GFH Financial Group have agreed to pay 8.72% of capital as a cash dividend for fiscal year 2017.
GFH, which is listed on Boursa Kuwait, Bahrain Bourse, and the Dubai Financial Market (DFM), will pay $0.0231 per share as dividends for FY17 at a maximum value of $85 million, according to a recent statement.
GFH noted that the dividend distribution will commence within 10 days from the ordinary general meeting’s (OGM) date.
The shareholders also approved GFH’s 2017 income statements, which registered a net profit of $104.2 million for the year.
GFH’s financial results in FY17 are “reflecting significant year-on-year growth in all areas of the business when excluding one-off income recorded in 2016.”
“We have entered 2018 in an excellent position to grow and to further unlock value from our diverse portfolio of financial and infrastructure assets,” the chairman of GFH, Jassim Al Seddiqi, said.
Capitalising on the 2017 progress, GFH will move ahead in 2018 toward a fresh era of expansion which will see an increase the group's transaction capacity, including new profitable divestments, in addition to maximising the value of existing portfolios, Al Seddiqi added.
