Bayan Investment Company has announced its financial results for the financial year ended 31/12/2007, which showed a gross profit of KD 7,527,248 and 22.02 fils earning per share (EPS).
Since the financial results were approved by the Central Bank of Kuwait; Bayan board of directors decided to raise a recommendation to the General Assembly of the company for a dividend distribution of 10% cash (10 fils for each share), and 10% bonus shares (10 shares for each 100 share), for the registered shareholders as of the General Assembly meeting date.
In this context, Mr. Faisal Al Mutawa –Chairman and Managing Director of Bayan – referred the reason of this profit in the first place to implementing the expanding strategy by focusing on the most growing economic sectors throughout the region especially the industrial, investment and real estate sectors. In addition, the company is hitting at many promising investments some of which been contracted and others are under evaluation. The most important of these investments is Najmat Abu Dhabi project in Al-Reem Island, United Arab Emirates, which aims at developing a group of plots for residential and commercial purposes with high technology and the modernist architecture, and through one of Bayan’s subsidiaries…