KUWAIT CITY, KUWAIT – Boursa Kuwait Securities Company (BOURSA) recorded a net profit of US$51 million (KD 15.80 million) for the financial year ended December 31, 2023.
Total operating revenues of US$99 million (KD 30.68 million) were also recorded over the same year, a press release said.
Meanwhile, operating profit for the 2023 financial year came in at US$59 million (KD 18.27 million), while the company’s earnings per share came in at 78.68 fils for the year 2023.
Consolidated assets came in at approximately US$386 million (KD 118.89 million) as of December 31, 2023, while shareholder equity (attributable to equity holders of the parent company) came in at US$208 million (KD 64.23 million).
Given these results, Boursa Kuwait’s Board of Directors proposed the distribution of cash dividends of 74 fils per share for the financial year ended December 31, 2023, which is approximately 94 percent of the company’s net profit.
The proposed distribution of cash dividends is subject to approval by the Annual General Assembly as well as approval from the relevant regulatory authorities, the release added.
Chairman Hamad Mishari Al-Humaidhi said, “Boursa Kuwait’s results for 2023 are a testament to the company’s strong operational model, as we displayed efficiency and agility in navigating the year, which was characterized by economic challenges and geopolitical tensions that affected capital markets across the region and around the world, including the Kuwaiti capital market.”
Boursa Kuwait also launched an initiative in 2023 that empowers licensed Kuwaiti investment companies to build relationships and exchange knowledge and expertise with world-renowned financial institutions, as the company believes that these companies play a pivotal role in the advancement of the market.
