Americana board proposes 65% cash dividend for FY11
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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