Financial statements get nod from IPG Board of Directors

The Board of Directors of the Independent Petroleum Group Company announced its approval of the audited annual financial statements for the year ending on December 31, 2023, during a meeting held yesterday.

The financial results revealed a net profit of 7.82 million dinars, translating to earnings per share of 43.24 fils per share. This marks a slight increase compared to the 2022 profits of 7.65 million dinars, or 42.35 fils per share, reports Al-Anba daily.

Furthermore, the Board of Directors has proposed a distribution of cash dividends of 30% of the nominal value of one share, equivalent to 30 fils per share. The total cash dividend payout is 5.42 million dinars for the financial year ending on December 31, 2023.

These cash dividends are eligible for registered shareholders according to the established procedures of the Capital Markets Authority and Boursa Kuwait Company.