Kuwait Foundry (KFOUC`R)

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News

6 May 2020 01:59 PM Kuwait Foundry agrees on 2019 dividends

Mubasher: The ordinary general meeting (OGM) of Kuwait Foundry Company approved distributing KWD 1.08 million or 15% of the share’s nominal value as cash dividends for fiscal year (FY) 2019 as was previously proposed by the board. The company’s …

General Assembly

29 March 2020 04:48 PM Kuwait Foundry turns profitable in FY 2019; dividends proposed

Mubasher: Kuwait Foundry Company has turned to a profit of KWD 894,912 ($2.86 million) in the fiscal year (FY) 2019, against a loss of KWD 1.15 million ($3.68 million) in 2018. In the fourth quarter (Q4), the company registered KWD 149,145 worth …

Financial Results

31 October 2019 02:58 PM Kuwait Foundry’s profit dips 20% in Q3

Mubasher: Kuwait Foundry Co. reported a 19.8% year-on-year decline in profit during the third quarter of 2019 to nearly KWD 158,000 ($521,400) from approximately KWD 197,000 ($650,100) in the corresponding quarter in 2018. During the …

Financial Results

30 September 2019 03:14 PM Kuwait Foundry approves 40% cash dividends for H1-19

Mubasher: The ordinary general meeting (OGM) of Kuwait Foundry Co. approved the board of directors’ recommendation to distribute a cash dividend of 40 fils per share or 40% of the capital for the first half of 2019. The total value of the …

General Assembly

8 September 2019 09:50 AM Kuwait Foundry proposes KWD 2.9m semi-annual dividends

Mubasher: Kuwait Foundry’s board of directors has recommended the distribution of semi-annual dividends valued at 40 fils per share or KWD 2.893 million to shareholders The dividends will be deducted from the retained earnings to shareholders …

Cash Dividends

25 August 2019 11:43 AM Boubyan Petrochemical buys KWD 49k equity in Kuwait Foundry

Mubasher: Representing Boubyan Petrochemical, Kuwait Foundry Co.’s board member purchased around 189,700 of the latter’s shares on Thursday 22 August 2019, Kuwait Foundry disclosed to Boursa Kuwait on Sunday. The deal was concluded at a total …

Companies Investments

8 August 2019 03:43 PM Kuwait Foundry’s profits level down in Q2-19

Mubasher: Kuwait Foundry Co. reported an 84.2% year-on-year profit decline during the second quarter of 2019, recording KWD 79,250 ($261,330). The company’s profit went down by 39% to KWD 588,150 in the first six months of 2019, compared to KWD …

Financial Results

30 July 2019 03:08 PM National Investments receives $12.8m from Kuwait Foundry’s dividends

Mubasher: National Investments on Tuesday announced that its share in Kuwait Foundry’s approved distributing cash dividends amounted to KWD 3.9 million ($12.81 million). The dividends share’ financial impact on National Investments will be …

Cash Dividends

29 July 2019 00:05 PM Boubyan Petrochemical to obtain KWD 4m of Kuwait Foundry’s dividends

Mubasher: Boubyan Petrochemical announced that the company’s share from the dividends of Kuwait Foundry is estimated at KWD 4.3 million, based on Boubyan’s 22.17% equity ownership in Kuwait Foundry, according to a bourse filing on Monday.  Boubyan …

Company News

28 July 2019 05:19 PM Kuwait Foundry nods to 151 fils/shr dividend, capital cut

Mubasher: The shareholders of Kuwait Foundry approved distributing cash dividends as well as reducing the capital. The ordinary general meeting (OGM) approved the board’s recommendation of distributing KWD 10.92 million worth of cash dividend or …

Company News

3 July 2019 00:03 PM CMA nods for Kuwait Foundry’s 53% capital cut

Mubasher: The Capital Markets Authority (CMA) approved on Tuesday for Kuwait Foundry to reduce its capital by 53%. Kuwait Foundry will cut its capital by KWD 8.155 million to KWD 7.233 million from KWD 15.388 million, the company said in a …

Corporate Actions

2 July 2019 04:40 PM Kuwait Foundry not to renew CEO contract

Mubasher: Kuwait Foundry has reached an agreement with its chief executive officer (CEO) for his last working date to be on Thursday, 4 July 2019. Kuwait Foundry’s board, which held a meeting on 11 June, made the above-mentioned decision of not …

Corporate Actions

30 June 2019 10:34 AM Kuwait Foundry reports profits from $6m loan repayment

Mubasher: Kuwait Foundry has realised a profit of nearly KWD 42,720 from Foulath Holding’s loan settlement. The loan is valued at $6.041 million (KWD 1.83 million) of which Kuwait Foundry has a 5% share, according to a bourse disclosure on Sunday. …

Company News

12 June 2019 11:09 AM Kuwait Foundry’s board proposes 53% capital cut

Mubasher: The board members of Kuwait Foundry approved, during their meeting on Tuesday, to reduce the capital by 53% or KWD 8.156 million. Once this recommendation is approved, Kuwait Foundry’s capital will become KWD 7.233 million from KWD …

Management Decisions

14 May 2019 11:10 AM Kuwait Foundry nods to 8 fils/shr dividend for FY18

Mubasher: The shareholders of Kuwait Foundry have approved, during the ordinary general meeting (OGM) on Monday, the board’s recommendation to distribute 8% of the capital as cash dividends for fiscal year 2018. Kuwait Foundry will pay 8 fils per …

Board of Directors

6 May 2019 09:38 AM Kuwait Foundry logs 10% profit growth in Q1

Mubasher: Kuwait Foundry Co. reported a 10% year-on-year rise in profits during the first quarter of 2019. The firm’s profits amounted to KWD 508,900 in Q1-19, up from KWD 464,700 during Q1-18, according to a statement to Boursa Kuwait. Kuwait …

Financial Results

24 January 2019 00:29 PM National Investments buys Al Khair’s stake in Kuwait Foundry for KWD 7.8m

Mubasher: National Investments on Thursday announced purchasing Al Khair National for Stocks and Real Estate’s stake in Kuwait Foundry for KWD 7.8 million. No financial impact will result from the deal on the company, National Investments said in …

Mergers and Acquisitions

9 January 2019 05:40 PM Boubyan Petrochemical to buy 20.4% stake in Kuwait Foundry

Boubyan Petrochemical announced reaching a deal with Al Khair National for Stocks and Real Estate Company to acquire a stake in Kuwait Foundry

Global Markets brief

8 May 2018 04:38 PM Kuwait Foundry to pay 30% dividends for FY17

Mubasher: The ordinary general meeting (OGM) of Kuwait Foundry approved on Tuesday the board’s recommendation to distribute 30% of the capital as cash dividends for fiscal year 2017. The Boursa Kuwait-listed company will pay 30 fils per share to …

Cash Dividends

15 March 2018 02:35 PM Kuwait Foundry FY17 financials turn profitable; dividends proposed

Mubasher: Kuwait Foundry reported a decrease of 77.4% in losses during the fourth quarter of 2017 compared to the same period in the prior year. Losses shrank to KWD 988,000 ($3.3 million) in Q4-17 compared to KWD 4.38 million ($14.63 million) in …

Board of Directors

15 August 2017 11:11 AM Kuwait Foundry Q2 profits shrink 27.2%

Mubasher: Kuwait Foundry posted a decline of 27.2% in profits during the second quarter of 2017 compared to the same period a year ago. Earnings decreased to about KWD 413,050 ($1.37 million) in Q2-17 from nearly KWD 567,060 ($1.88 million) in …

Financial Results

14 May 2017 05:01 PM Kuwait Foundry to distribute dividends at 10%

Kuwait - Mubasher: The general assembly of Kuwait Foundry has approved the board of directors’ recommendation to distribute cash dividends to shareholders at 10 fils per share, according to a bourse filing. The dividends will represent 10% of the …

General Assembly

10 May 2017 08:32 AM Kuwait Foundry Q1 profits jump to above KWD 5m

Kuwait – Mubasher: Kuwait Foundry achieved a surge of 821.7% in profits during the first quarter of 2017, compared to the same period in 2016. Earnings soared to KWD 5.46 million ($17.9 million) in Q1-17 from about KWD 592,400 ($1.94 million) in …

Financial Results

21 March 2017 04:21 PM Kuwait Foundry widens losses in 2016

Kuwait - Mubasher: The financial results of Kuwait Foundry has showed an increase in losses by 584.4% in the fourth quarter of 2016. The company added in a statement to Boursa Kuwait on Tuesday that losses reached KWD 4.38 million ($14.33 million) …

Financial Results

13 March 2017 01:09 PM Kuwait Foundry exits stake in Americana

Mubasher: Kuwait Foundry has sold its entire stake in Kuwait Food – Americana to UAE’s Adeptio AD Investments. The company noted that selling its stake to Adeptio generated a profit of KWD 5.71 million, according to a bourse statement issued on …

Mergers and Acquisitions