Kuwait - Warba Ins. agrees on 2019 dividends, bonus shares
Friday, 05 08 2020, Category: Insurance and Reinsurance, Country: Kuwait
Warba Insurance’s general assembly approved the previously recommended distribution of cash dividends of 7.5 fils per share or 7.5% of the share’s nominal value for 2019 after excluding treasury stocks.
The distribution will be to the shareholders registered on record at the end of the maturity date scheduled 15 days following the assembly’s meeting, according to a bourse filing on Thursday.
The distribution process will begin after five business days from the maturity date.
In addition, the assembly approved distributing bonus shares of 2.5% of the issued and paid-up capital, equivalent to 4.32 million shares, and remuneration of KWD 35,000 to the board members for 2019.
Last year, Warba Insurance’s earnings climbed by 49.8% on an annual basis to KWD 1.17 million ($5.53 million), compared to KWD 781,520 ($2.53 million).