Annual General Assembly Meeting of Kuwait Insurance Company approved 40 % Cash Dividends for the year 2023

Annual General Assembly Meeting of Kuwait Insurance Company approved 40 % Cash Dividends for the year 2023

Kuwait City, May 11: The Ordinary General Assembly of Kuwait Insurance Company met on Thursday, May 9th, 2024 and approved all agenda items, including, the distribution of cash dividends to the shareholders at a rate of 40%, i.e. Forty fils per share. The gross profit during the year amounted to KD 13.4 million (USD 43.5 …

Kuwait City, May 11: The Ordinary General Assembly of Kuwait Insurance Company met on Thursday, May 9th, 2024 and approved all agenda items, including, the distribution of cash dividends to the shareholders at a rate of 40%, i.e. Forty fils per share.

The gross profit during the year amounted to KD 13.4 million (USD 43.5 million) compared to KD 12.4 million (USD 40.3 million) last year, which was the profit after excluding the exceptional non-recurring profits amounting to KD 31.7 million (USD 103 million) which resulted due to the swap of Ahli United Bank shares held by KIC into Kuwait Finance House shares, after the acquisition in the year 2022.

The Net profit amounted to KD 12.1 million (USD 39.3 million) with Earnings Per Share of Fils 65.61 (US Cents 21) after deducting the realized gain from sale of investments during the year 2023 amounting to KD