Mubasher: The ordinary general meeting (OGM) of National Petroleum Services (Napesco) approved the board’s recommendation to distribute 70% of the capital as cash dividend for fiscal year 2018.

Napesco will pay 70 fils per share to the entitled shareholders as a dividend for FY18, at a total value of KWD 6.8 million, according to a bourse statement on Thursday.

 The dividends will be paid on 18 April to the shareholders of record date on 14 April.

During FY18, Napesco has achieved an increase of 17.7% in profits to KWD 11.79 million compared to KWD 10.02 million in FY17.

At the stock level, Napesco closed Thursday’s session 1.44% lower at KWD 1.025.