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Americana board proposes 65% cash dividend for FY11

Americana FOOD`R 0.00% 1,261.00 0.00

Kuwait Stock Exchange (KSE) announces that the board of Kuwait Food Co. (Americana), in a meeting held today, Wednesday, February 15, 2012, endorsed financial statements for the fiscal year that ended on 31/12/2011 as follows:

1) Financial results:

Item

FY ended 31/12/2011

FY ended 31/12/2010

Profit (KWD)

48,022,000

46,220,000

EPS (fils)

123

118

Total current assets

235,666,000

204,994,000

Total assets

581,063,000

625,574,000

Total current liabilities

188,824,000

178,770,000

Total liabilities

251,775,000

250,144,000

Total shareholders' equity

291,379,000

333,105,000

Total revenue and expenses of dealings with related parties reached KWD 862,000 and KWD 183,000 respectively.

2) Proposed dividend

The board recommended paying cash dividend at 65% of par value, or 65 fils per share for FY11, to shareholders of record on their general meeting date.

The proposal is pending the approval of shareholders and competent authorities.


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