Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Umm Al Qaiwain General Investment Co has approved distributing 7% of capital as cash dividends for fiscal year 2017.
Umm Al Qaiwain, which is listed on both Boursa Kuwait and the Abu Dhabi Securities Exchange (ADX), will pay 7 fils per share as dividends to the entitled shareholders for FY17, according to a bourse statement on Sunday.
The approved dividends totalled AED 25.41 million or $7 million.
It is noteworthy that Umm Al Qaiwain posted a decline of 41% in profits to AED 17.21 million during fiscal year 2017 compared to AED 29 million in FY16.
