Al-Safat Energy board proposes FY11 dividend freeze
Kuwait Stock Exchange (KSE) announces that the board of Al-Safat Energy Holding Co., in a meeting held today, Thursday, 29/03/2012, endorsed financial statements for the fiscal year that ended on 31/12/2011, as follows:
1) Current periods:
| Item |
FY ended 31/12/2011 |
FY ended 31/12/2010 |
| Profit (Loss) (KWD) |
(11,470,352) |
(4,374,580) |
| EPS (LPS) (fils) |
(19.05) |
(7.26) |
| Total current assets |
11,461,791 |
14,696,146 |
| Total assets |
64,573,544 |
77,684,476 |
| Total current liabilities |
9,332,628 |
8,858,410 |
| Total liabilities |
9,843,613 |
9,492,041 |
| Total shareholders' equity |
47,945,644 |
58,722,619 |
Total expenses of dealings with related parties reached KWD 22,534, with no relevant revenue recorded.
2) Proposed dividend:
The board recommended withholding dividend for FY11, pending the approval of shareholder meeting and competent authorities.
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