Kuwait – Mubasher: National Petroleum Services Company’s (Napesco) shareholders agreed on Wednesday on distributing cash dividends at 60% of the shares par value or 60 fils per share for the fiscal year 2015.
The company’s profits soared by 67.9% to reach KWD 5.69 million ($18.86 million) during FY15, compared to KWD 3.39 million ($11.24 million) in 2014.
Napesco’s general meeting earlier approved cash dividends at 45% of the share’s par value (45 fils per share) for FY14.
Last week, the Kuwait-listed company posted a net profit of KWD 1.4 million ($4.64 million) in the first quarter of fiscal 2016, compared to KWD 2.1 million ($6.96 million) in Q1-15.
