Mubasher: National Investments succumbed to losses in the fourth quarter of 2018, incurring KWD 1.05 million ($3.46 million), against KWD 763,740 ($2.52 million) in the prior-year period.
For the full-year 2018, National Investments logged a 29% profit drop to KWD 7.37 million, against KWD 10.31 million in 2017, the company said in a statement to Boursa Kuwait on Thursday.
The Kuwaiti firm’s board of directors recommended distributing 5% of the share’s nominal value, or 8 fils per share, as cash dividends for the full-year 2018.
Additionally, the board proposed reducing the company’s issued capital to KWD 79.786 million, from KWD 87.621 million by writing off treasury stocks after the approvals of the Capital Markets Authority (CMA) and the company’s ordinary general meeting (OGM).
The company’s capital reaches KWD 87.62 million, distributed over 876.21 million shares, with a nominal value of 100 fils a share.
During the first nine months of 2018, National Investments’ profits fell 11.8% to KWD 8.41 million, against KWD 9.54 million in the corresponding period a year earlier.
By 11:43 am Kuwait time, National Investments’ stock rose 3.72% to 97.50 fils.
