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Investegate |Kuwait ProjectCo SPC Announcements | Kuwait ProjectCo SPC: Announcement re: Rights Issue
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KIPCO to raise its capital through a rights issue
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Burgan Bank to distribute 5 fils cash dividend, 5% stocks
KUWAIT CITY, 2 hours, 34 minutes ago Burgan Bank, the third largest bank by assets in Kuwait, has announced that it has won shareholders approval for the distribution of cash dividends of 5 fils per share and 5% stock for the financial year 2020. The announcement was made at Burgan Bank s 55th Ordinary Annual General Assembly meeting yesterday (June 6) held at Kipco Tower, where the board of directors submitted to its shareholders the financial results achieved for the past year ending on December 31, 2020. Burgan Bank is a majority-owned unit of Kipco (Kuwait Projects Company), one of the largest holding companies in the Middle East and North Africa.
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says company s Vice Chairman Kuwait City, 15 April, 2021: At its Annual Shafafiyah Transparency Investors Forum, KIPCO - the Kuwait Projects Company (Holding) - said that it would remain guarded about 2021, as it closely monitors the impact of the ongoing COVID-19 pandemic on business. At the company s investors forum, KIPCO presented a review of its activities in 2020 and its outlook for 2021. In line with the health authorities guidelines regarding social distancing, the event was broadcast live to an audience of shareholders, financial analysts and institutional investors. Annual General Assembly The forum followed the company s General Assembly meeting where KIPCO s shareholders approved a cash dividend of 5% (5 fils per share). An Extraordinary General Assembly was also held, during which the shareholders agreed to raise the company s authorized capital from KD 200 million to KD 30
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