Kuwait – Mubasher: Qurain Petrochemical Industries Company said Sunday that it should take KWD 12.9 million ($42.8 million) in cash dividends for the fiscal year 2015 from Equate Petrochemical and Kuwait Olefins.
The company added that its entitlement to these cash dividends is based on its 6% stake in the total capital of the two companies, according to a bourse filing.
The cash dividend will be included in the financial statements for the fourth quarter of the fiscal year 2016.
Qurain issued its statement after Equate Petrochemical and Kuwait Olefins approved Thursday cash dividends for the fiscal year 2015.
Qurain’s stock rose by 1.04% to 194 fils in today’s mid-trading, as 241,800 shares were exchanged at KWD 47,000 ($155,614).
