Kuwait – Mubasher: Ooredoo Kuwait posted KWD 14.47 million ($47.29 million) net profit for the fourth quarter of 2016 versus KWD 1.44 million ($4.71 million) losses in Q4-15.
Net profit for the twelve months of 2016 hiked 75% to KWD 46.7 million from KWD 26.7 million in 2015, according to a bourse filing on Tuesday.
Ooredoo's board recommended distributing cash dividends for 2016 of 85 fils per share, representing 85% of the share's nominal value.
The company capital amounts to KWD 50.4 million, distributed over KWD 504 million shares at a nominal value of 100 fils per share. The company owns around 2.87 million treasury shares.
