Boursa Kuwait Securities Company, the owner of Kuwait’s stock market, made a net profit of over 28 million Kuwaiti dinars ($92.6 million) compared with 9.59 million dinars in the year-ago period as operating income soared.
In a statement Thursday, the company attributed the strong gains in part to the inclusion of Kuwaiti companies in the MSCI Emerging Markets Indices, which accounted for over 961.6 million dinars in traded value and represented one of the highest one-day traded values in the history of Kuwait’s capital markets.
In addition, the consolidation of the Kuwait Clearing Company, and the rise in trading volume due to the increase in foreign ownership in Kuwaiti banks, helped boost income.
Foreign ownership within the Premier Market increased by 13 percent, while foreign trading flows accounted for approximately 26 percent of traded value in 2020, it added.
Boursa Kuwait’s board of directors has recommended cash dividend of 40 fils per share.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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