By: Ahmad Awad
Kuwait-Mubasher: Mezzan Holding’s ordinary general meeting agreed Wednesday on paying 27.5 fils per share as cash dividends for the fiscal year 2015. The Kuwait-listed firm will also distribute 5% bonus shares.
The overall dividends approved in FY15 account for about 42% of the net profit achieved over the year, according to Mubasher’s calculations.
Mezzan, a manufacturer and distributor of food, beverage, FMCG, and pharmaceutical products, has achieved an annual growth of 31.8% in FY15 profits which stood at KWD 19.4 million ($64.35 million). Its revenues also increased to KWD 196.1 million ($650.48 million).
On the stock market, Mezzan settled at KWD 1.16 half an hour before closing Wednesday’s session, after 200 shares were exchanged with a value of KWD 232.
