«Al-Tijari Brokerage»: 136.5% growth commissions in 2017
CEO of Al-Tijar Financial Brokerage Company, Sheikh Ahmed Duaij Al-Sabah, said that the company achieved good financial results during 2017, noting that the company overcame the difficulties thanks to good planning and made some adjustments that contributed to reducing expenses and maintaining performance. He added: The value of the Kuwait Stock Exchange increased by 95.3% compared to 2016 and the commission's revenues grew by 136.5% over the commission revenues in 2016. Al Sabah disclosed that the company achieved profits exceeding one million dinars in 2017, an increase of 11.663% over 2016. The Ordinary General Meeting of the company held yesterday at a rate of about 97% on the recommendation of the Board of Directors to distribute cash dividends to the shareholders at the rate of 2% of the authorized and fully paid capital of 10 million dinars, ie 100 fils per share and the amount of 200 thousand dinars to be allocated to shareholders on the due date. The General Assembly approved the recommendation of the Board of Directors to distribute bonus shares at a rate of 3% of the authorized and fully paid up capital, ie 100 fils per share and an amount of 300 thousand dinars allocated to the registered shareholders. The Assembly approved the financial statements for the year ended December 31, 2017. The Extraordinary General Assembly approved the increase of the capital by 3% from 10 million dinars to 10.3 million dinars by distributing bonus shares paid once and allocated to the shareholders. The Assembly also amended Articles 5 and 6 of the Memorandum of Association .