Agility Holds AGM Teleconference for the Year Ending 31 Dec. 2019

The meeting was held by teleconference because of current physical distancing measures put in place by the Kuwait government to combat the COVID-19 crisis. Shareholders approved all the items on the agenda, including Agility’s audited financial results, and endorsed the Board of Directors’ recommendation for a cash dividend of 5% (5 fils for every share) and a bonus share distribution of 15% (15 shares for every 100 shares).

Dividend distribution will apply to the shareholders registered in the company’s records at the end of the settlement date on 26 July 2020, and payments will be distributed on 28 July 2020, provided that the company is able to finalize related processes in light of the COVID-19 crisis. Cash dividend distributions will be transferred electronically to the shareholders bank accounts that have registered with Maqasa. Shareholders are kindly requested to check with Maqasa to update their records.

Agility had announced a  net profit of KD 86.8 million, or 52.14 fils per share for the year 2019, an increase of 7% from 2018. Revenue for the year reached KD 1,578.6 million, and EBITDA was KD 193.1 million, increases of 1.8% and 24.7%, respectively.