Mubasher: Injazzat Real Estate Development said that its ordinary general meeting (OGM) has approved the board’s recommendation of distributing 7% of the capital as cash dividends for fiscal year 2018.
The company will pay 7 fils per share as a dividend at a total value of KWD 2.36 million, according to a bourse statement on Wednesday.
The dividends will be paid on 31 March to shareholders of record date of 21 March.
Following the dividends distribution, a decrease of KWD 2.36 million in cash and retained income will be registered.
During FY18, Injazzat achieved a growth of 13.5% in profits to KWD 4 million from KWD 3.53 million in FY17.