Mubasher: The ordinary general meeting (OGM) of Mabanee Co consented to the proposed cash dividend distribution of KWD 14.6 million or 14 fils per share for the fiscal year (FY) 2019, representing 14% of the share’s nominal value.
It also approved a six-for-100 bonus issue or 6% of the capital, equivalent to 62.55 million shares, according to a stock exchange statement on Thursday.
Shareholders eligible for the distributions are those registered on the company's records on 7 May 2020 and the payment date is on 20 May.
Moreover, the assembly approved remuneration worth KWD 550,000 to board members for 2019.
It also amended some items of the company’s articles of association and charter in line with the capital increase.
It is worthy to note that in 2019, Mabanee’s profits rose by 7.39% to reach KWD 56.41 million when compared to KWD 52.53 million in the previous year.
