Kuwait – Mubasher: The ordinary general meeting (OGM) of National Petroleum Services (Napesco) approved distributing 73.53% of capital as bonus shares for fiscal year 2016.
Napesco will distribute 73.58-for-100 shares, with a total of 42.39 million shares, according to a bourse statement issued on Wednesday.
The shareholders also approved raising the capital to KWD 10 million from KWD 5.76 million.
It is noteworthy that Napesco has approved paying 80% of the nominal value as cash dividends for FY16.
The company achieved a rise of 35.5% in profits to KWD 7.71 million in FY16 from KWD 5.69 million in FY15.
