Mubasher: Gulf Insurance Group will hold its ordinary general meeting (OGM) on 29 March to discuss the board’s recommendation of distributing 30% cash dividends for the fiscal year 2017.
The group’s board has proposed paying 30 fils per share as dividends for FY17, according to a bourse filing on Sunday.
The dividends will hold an ex-dividend date on 19 April; once approved, the dividends will be distributed on 3 May.
Gulf Insurance’s shareholders will also consider suspending deduction for compulsory reserves as it reached 100% of the capital.
In FY17, Gulf Insurance achieved a net profit of KWD 10.3 million.
