DUBAI, Jan 23 (Reuters) - National Bank of Kuwait , the Gulf Arab state's largest commercial lender, said on Monday that its board had recommended a cash dividend for 2016 of 0.03 dinars ($0.098) per share and 5 bonus shares for every 100 currently held.

The proposal is the same payout as for the previous year.

The bank reported full-year 2016 net profit of 295.2 million dinars, up from 282.2 million dinars in 2015.

($1 = 0.3050 Kuwaiti dinars)

(Reporting by Hadeel Al Sayegh, Writing by Tom Arnold, Editing by Louise Heavens) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))