Kuwait Foundry approves 40% cash dividends for H1 2019

The retained earnings account will register a decline amounting to the same value of the cash dividends

  
A Kuwaiti investor keeps track of stock prices at the Kuwait Stock Market October 13,2008.

A Kuwaiti investor keeps track of stock prices at the Kuwait Stock Market October 13,2008.

REUTERS/Stephanie McGehee

Kuwait - The ordinary general meeting (OGM) of Kuwait Foundry Co. approved the board of directors’ recommendation to distribute a cash dividend of 40 fils per share or 40% of the capital for the first half of 2019.

The total value of the distribution amounts to KWD 2.893 million and will be deducted from the retained earnings, Kuwait Foundry said in a filing to Boursa Kuwait on Monday.

Accordingly, the retained earnings account will register a decline amounting to the same value of the cash dividends.

Source: Mubasher

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