Agility Public Warehousing Company, a leading supply chain services, infrastructure and innovation company, has announced that the board, impressed with the company's FY 2024 results, has decided to distribute 10% cash dividends (equivalent to 10 fils per share) to its shareholders.
In 2024, the Kuwaiti group had recorded a full year revenue of KD1.52 billion ($4.93 billion), while its net income stood at KD63 million (equivalent to 25.07 fils per share). Ebitda stood at KD277 million.
The announcement came after the board won approval from its shareholders at its Annual Ordinary General Assembly Meeting last week held with a quorum of 63.7%.
Listed in Kuwait and Dubai, Agility specializes in growing and scaling operating businesses.
Agility’s portfolio of companies include the world’s largest aviation services company (Menzies Aviation); a global fuel logistics business (Tristar); and a leading logistics parks developer and operator across the Middle East, South Asia, and Africa (Agility Logistics Parks). Other Agility companies offer customs digitization services, remote-site infrastructure services, defense and government services, ecommerce-enablement and digital logistics, and waste management and recycling.
Agility board said these dividends are entitled for the shareholders who will be registered on the company’s shareholders’ record on the settlement date (June 25). Dividends will be distributed on June 30.
In addition to this, the company’s shareholders approved all the items on the agenda, including Agility’s audited financial results for the year 2024.
The AGM also elected a new board of directors for the next three years with the following new non-independent members:
*Arab Market General Trading and Contraction Co represented by Faisal Al Sultan
*White Tower General Trading and Contracting represented by Tarek Abdulaziz Sultan Al Essa
*Abdulaziz Nader Al Essa
*Public Institution for Social Security (appointed)
The independent members in the new board are Naser Mohammad Fahad Al Rashed; Sultan Anwar Al Essa and Abdulmajeed Hajji Hussein Al Shatti.-TradeArabia News Service