Shareholders of Mezzan Holding have approved the Board of Directors’ recommendation to distribute cash dividends of 20% of the nominal value of the share (20 fils per share) for the fiscal year ended on December 31, 2023.

 

At the Annual General Meeting, shareholders also elected Basel Abdulhameed AlSalem as an additional member of the board of directors for the current term 2022-2024. Al-Salem brings with him over 20 years of experience in entrepreneurship and leadership in the Gulf’s food sector.

 

Group's resilience

Mezzan Holding Vice Chairman Mohammad Jassim Al Wazzan said: “Last year, Mezzan Holding successfully navigated the challenges it encountered, turning obstacles into opportunities for growth, and achieving outstanding results. This success is a testament to the group's resilience and its capacity to progress amid global challenges. We remain committed to our ongoing efforts to advance the company’s growth plans, while focusing on our core business lines which include food and non-food in consistent with the group strategy. Finally, I would like to express our appreciation to the company's management and employees for their efforts throughout the year, as well as to the various regulatory authorities for their cooperation.”

 

The company had posted net profit to parent company shareholders of KWD11.5 million ($37.36 million), up 15.5%. Shareholders’ equity to owners of parent company was KWD109.9 million, up 1%. --TradeArabia News Service