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The Iraqi General Assembly of Carpets approved a cash dividend for 2017
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The Iraqi Company for Carpets and Furniture, listed on the Iraqi Stock Exchange, on Monday, approved the distribution of cash dividends to shareholders for 2017.
The company said in a statement to the stock exchange, read by "Economy News", that "its shareholders unanimously agreed to distribute dividends of 50% of the accumulated surplus, which amounted to 228.95 million dinars in 2017."
Last year, the company's shareholders agreed to distribute cash dividends of 50% of the capital for 2016, instead of 30% proposed by the board of directors.
The company's capital is 500 million dinars, distributed over 500 million shares, with a nominal value of one dinar per share.
The company posted a growth in its annual profit in 2017, by 46.78%, to reach KD 271.08 million, compared to a profit of KD 184.68 million in 2016.
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