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Americana board recommends 65% cash dividend for FY10

Americana FOOD`R 0.00% 1,261.00 0.00

Kuwait Stock Exchange (KSE) announces that the board of Kuwait Food Co. (Americana) approved, today, Tuesday, 15/02/2011, the interim financial statements for the FY that ended on 31/12/2010, as follows:

1- Financial results:

Item

FY ended 31/12/10

FY ended 31/12/09

Profit (Loss) (KWD)

46.220.000

36.276.000

EPS (LPS) (fils)

118

93‏

Total current assets

204.994.000

189.268.000‏

Total assets

625.574.000

589.751.000‏

Total current liabilities

178.770.000

183.059.000‏

Total liabilities

250.144.000

264.532.000

Total shareholders’ equity

375.430.000

325.219.000


Total revenue and expenses of dealings with related parties reached KWD 242.000 and KWD 1.997.000 respectively.


2- Proposed dividend:

The board recommended paying FY10 cash dividend at 65% of par value, or 65 fils a share, to shareholders of record on their general meeting date.

This proposal is pending the approval of shareholder meeting and competent authorities.

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