Mubasher: Independent Petroleum Group (IPG) on Wednesday posted a 1.4% year-on-year drop in its profits for the full-year 2018, registering KWD 6.148 million ($20.3 million) against KWD 6.232 million ($20.6 million).
The Kuwaiti company’s board of directors recommended distributing a cash dividend of 30% of the share’s nominal value, or 30 fils a share in its Wednesday meeting, according to a statement to Boursa Kuwait.
During the nine-month period ended September 2018, IPG reported a rise of 15.4% in profits to KWD 5.86 million, compared to KWD 5.09 million in the same period a year ago.
IPG’s stock surged 2.22% to close at 414 fils on Wednesday after 65,000 shares were traded at a turnover of KWD 26,900.
