Mubasher: Kuwait-based United Projects Company for Aviation Services’ (UPAC) general assembly meeting on Tuesday approved the board of directors’ recommendation to distribute 21 fils per share as cash dividends for 2018.
Distributions make up 21% of UPAC’s capital, according to a bourse filing.
The firm is currently working on four projects and is on the verge of completing three of them, chairman Tarek Al Mousa told Kuwait News Agency (KUNA).
UPAC last reported a 21.5% year-on-year decline in profits during the fourth quarter of fiscal year 2018, reaching KWD 2.19 million, compared to KWD 2.79 million.
On 20 February, the company stated that the rights issue offered from 17 January to 14 February has been completed to raise its capital.
