Abu Dhabi – Mubasher: The board members of Ras Al Khaimah Co. for White Cement and Construction Materials (RAK Cement) have recommended a cash dividend accounting for 5% of capital for fiscal year 2018, according to a bourse disclosure on Sunday.
RAK Cement’s board proposed paying 5 fils per share as dividends for FY18, at a total of AED 25 million, according to data compiled by Mubasher.
It is noteworthy that RAK Cement, listed on both the Abu Dhabi Securities Exchange (ADX) and Boursa Kuwait, has a capital of AED 500.16 million.
The board called for an ordinary general meeting (OGM) on 20 April to consider the recommendation.
During FY18, RK Cement posted a decline of 57% in profits to AED 13 million from AED 30.42 million in FY17.
