Mubasher: Gulf Bank’s ordinary general meeting (OGM) consented to the proposed cash dividend distribution of 11 fils per share or 11% of the share’s nominal value for the fiscal year (FY) 2019 after deducting treasury stocks.
Shareholders eligible for the dividends will be those registered on the company's records at the end of the eligibility date on 19 April 2020 and dividends will be paid on 22 April, according to a stock exchange statement on Wednesday.
In addition, the general assembly approved distributing a remuneration of KWD 135,000 to board members.
It is worthy to mention that in 2019, the lender’s net profit surged by 12.2% on an annual basis to reach KWD 63.64 million ($202.8 million).
