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Kuwait’s KIPCO Q4 Net Profit Gains 2%, Raises Cash Dividend

Kuwait’s KIPCO Q4 Net Profit Gains 2%, Raises Cash Dividend

Net profit in the three months to Dec. 31 was KD14.3 million.

Kuwait Projects Co (KIPCO), the Gulf state’s largest listed investment company, reported a two per cent rise in fourth-quarter net profit on Sunday, and raised the cash portion of its dividend for 2014 versus the previous year.

Net profit in the three months to Dec. 31 was KD14.3 million ($48.4 million), compared to KD14 million in the same period last year, it said in a statement on its website.

KIPCO, a regional investment house with stakes in media, industrial, financial and real estate companies, said its board was recommending a cash dividend of KD0.025 a share for 2014.

This compared to the KD0.020 per share and a five per cent stock dividend which the company paid for 2013, according to a previous company statement.

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