ArabFinance: The National Bank of Kuwait (NBKE) announced the distribution of the cash dividends of EGP 1.25 per share, according to a statement sent to the Egyptian exchange.

The company stated that the dividend will be payable on April 8th to the shareholders recorded on April 5th.

On March 14, the ordinary general assembly approved the profit distribution attributable to shareholders of EGP 1.25/share, in addition, transferring 5% of the 2019's profit to the legal reserve.

The bank posted a net profit of EGP 2.168 billion in 2019, compared to net profits of EGP 2.002 billion achieved in a year earlier.

Moody’s Investors Service has assigned a rating of "Aa3" for the long-term issuer default rating (IDR) of the National Bank of Kuwait (NBK), with a "Stable" outlook.

The rating reflects the bank’s ability to maintain robust performance and solid financial metrics, while the 'Stable' outlook reflects strong asset quality and liquidity as well as capitalization ratios, considering the 'Stable' sovereign rating of Kuwait, according to an EGX disclosure.

Founded in 1952 and listed in 1984, the National Bank of Kuwait, commonly known as NBK operates within the Banks sector focusing on Diversified Banks. NBK is based in Kuwait City, Kuwait and was established in May 1952.