Mubasher: Palms Agro Production’s ordinary general meeting (OGM) approved to distribute a cash dividend of 10 fils per share, representing 10% of the share’s nominal value, to shareholders for the full fiscal year 2018 after deducting treasury stocks.
Palms will pay total dividends of KWD 523,160 on 3 July from the company’s voluntary reserves, according to a recent statement to Boursa Kuwait.
The eligibility of dividends shall be for the shareholders registered at the end of trading in the firm’s registries on 27 June.
The OGM also approved to amend article No.5 of the incorporation contract and article No. 4 of the company’s Articles of Association.
In 2018, Palms’ losses decreased by 93.23% to KWD 35,140, compared to KWD 518,720 a year ago.
