• Board approves interim cash dividend distribution of KD 25.5 million (USD 83 million); equivalent to 10 fls per share.
  • Agility’s Board has also approved an in-kind dividend distribution estimated at KD 800 million (USD 2.6 billion), representing shares forming 49% of the issued share capital of a subsidiary, Agility Global PLC, which is pursuing a listing on the Abu Dhabi Securities Exchange (ADX).
  • Following the distribution, Agility, a listed company on the Kuwait Stock Exchange and Dubai Financial Market, remains the controlling shareholder in Agility Global PLC with a 51% stake.
  • “This is a value-creating opportunity for shareholders and the company; crystalizing the value of assets for shareholders and giving the company access to additional capital markets to fund future growth,” said Tarek Sultan, Agility Vice Chairman. 

Kuwait - Agility Public Warehousing Company KSCP (Agility) announced that its Board of Directors has approved an interim cash dividend distribution of KD 25.5 million (USD 83 million), equivalent to 10 fls per share. Agility’s Board will meet on March 30 to discuss the full year financial results and dividends. 

Shareholders approved paying dividends on an interim basis and listing shares of certain Agility assets on foreign stock exchanges at prior general assembly meetings held on May 30 and June 7, 2023.

Agility’s Board has also approved an in-kind dividend distribution estimated at KD 800 million (USD 2.6 billion), representing shares forming 49% of the issued share capital of a subsidiary, Agility Global PLC, which is pursuing a listing on the Abu Dhabi Securities Exchange (ADX).

Agility Global PLC is a wholly owned subsidiary of Agility that manages certain company operations and assets, notably Menzies Aviation, the company’s investment in Tristar Transport LLC, the operations of Agility Logistics Parks outside Kuwait, and the DSV investment.

Following the distribution, Agility, a listed company on the Kuwait Stock Exchange and Dubai Financial Market, will remain the controlling shareholder in Agility Global PLC with a 51% stake. Agility will continue to consolidate accounts for Agility Global PLC even after listing. 

“Over the last 25 years, Agility has grown to encompass global and regional companies that lead in their sectors. We’re proud of the value we’ve created for our 14,000 shareholders. Since the company was privatized in 1997, shareholder value has grown by a multiple of nearly 20 times. Today’s dividend distribution is an additional step in that journey. The listing of Agility Global PLC crystallizes the value of assets for shareholders and gives the company access to additional capital markets to fund future growth,” said Tarek Sultan, Agility’s Vice Chairman. “Agility continues to be a global company proudly based in Kuwait; and will continue to invest and grow locally as well as globally.” 

ADX listing is expected May 2, subject to fulfilling certain regulatory requirements.

About Agility

Agility is a global leader in supply chain services, infrastructure, and innovation with 45,000+ employees across six continents. A multi-business operator and investor, Agility specializes in growing and scaling operating businesses. Agility’s companies include the world’s largest aviation services company (Menzies Aviation); a global fuel logistics business (Tristar); the market leader in logistics parks across the Middle East, South Asia, and Africa (Agility Logistics Parks); and a commercial real-estate company developing a mega-mall in the UAE (UPAC). Other Agility companies offer customs digitization services, remote-site infrastructure services, defense and government services, and ecommerce-enablement and digital logistics. Agility invests in supply chain innovation, sustainability, and resilience, and has minority holdings in a growing portfolio of listed and non-listed companies.

For more information about Agility, visit:

Website: www.agility.com

Twitter: twitter.com/agility

LinkedIn: linkedin.com/company/agility

YouTube: youtube.com/user/agilitycorp