Kuwait - The board of Kuwait Business Town Real Estate has decided not to distribute cash dividends for fiscal year (FY) 2019, due to the economic impact caused by the coronavirus (COVID-19) pandemic.
The decision, subject to the shareholders' approval, does not have any impact on the company's financial statements for the period ended on 31 December 2019, the company disclosed to Boursa Kuwait on Monday.
It is noteworthy to mention that the board has previously proposed to pay out KWD 1.88 million cash dividends at 3 fils per share or 3% of the share's nominal value for last year.
Source: Mubasher
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