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Agility trims dividend despite 10pc Q4 profit gain

KUWAIT, March 29, 2015

Kuwait's Agility, the largest Gulf logistics group, trimmed its dividend payout for 2014 despite reporting a 10 per cent increase in both its fourth-quarter and full-year net profit.

The firm said in a statement on Sunday its net profit in the final three months of 2014 grew to KD13.7 million ($45.7 million), in line with the estimate of Sico Bahrain.

The 2014 net profit increased by the same percentage to KD50.8 million ($169.3 million), the statement added.

However, Agility said its board was proposing to pay shareholders a cash dividend of 0.035 dinars a share and five free shares for every 100 held for 2014.

While the stock payout was in line with the 2013 figure, the cash amount was below the 0.04 dinars paid in the previous year, according to Thomson Reuters data.-Reuters




Tags: logistics | Agility | Kuwait |

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