Pearl of Kuwait board recommends no dividend for 2012

The Board of Directors of Pearl of Kuwait Real Estate Company Thursday recommended that no dividend be distributed to shareholders for the fiscal year ending December 31, 2012.  A company statement on the Kuwait Stock Exchange website said the company realized profit of KD 247,040 at fils 2.46 per share, with assets reaching value of KD 15.16 million and liabilities at KD 31.9 million. Shareholders' equity to said date is at KD 3.36 million.  The company was established in 1975 with paid capital of KD 10.06 million and was listed with Kuwait Stock Exchange in 1987.  The company operates in purchase and sale of land and investment in commercial and industrial real estate projects through the founding of specialized companies and management of other parties' property and invests financial surplus in portfolios managed by specialized companies.