Kuwait – Mubasher: The Ordinary General Assembly of Boubyan Petrochemical Company will discuss, on June 11, the Board of Directors’ recommendation to distribute 60% of the share’s nominal value as cash dividends, at 30 fils per share for the year ending on April 30, 2023.
According to a statement by the Kuwait Stock Exchange today, Thursday, the General Assembly is considering approving the reports of the Board of Directors and the auditor for the past year, the violation report, and the recommendation of the Board of Directors to stop deducting 10% for the optional and compulsory reserves for the fiscal year ending on April 30, to increase the latter by more than half of the capital. source company.
Among the items on the general agenda is the discussion of the Board of Directors’ recommendation to distribute the remuneration set for the Board amounting to 90,000 dinars for the past year, and its authorization to buy and sell the company’s shares not exceeding 10%, review the dealings of the parties, release the members of the Board, and appoint or reappoint the auditor.
It is noteworthy that “Boubyan Petrochemical” has set June 18 as a postponed date for holding the General Assembly in the event that the first date does not meet the legal quorum.
Boubyan recorded profits for the year ending on April 30, at a value of 35.04 million dinars, down 10% from its level in the previous year, which amounted to 38.76 million dinars..
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