According to a report published by Forbes Middle East in the latest edition, Aleid Foods (the only company from Kuwait) ranked 6th among seven food and beverage companies in the Middle East cumulatively achieving $11B in revenue during 2020.
During Aleid Foods’ Annual General Meeting (AGM) held today, shareholders approved the distribution of cash dividend of 5% of the nominal share price in addition to 20% bonus shares for the fiscal year ended December 31, 2020. Dividend will be distributed to shareholders registered in the Company’s register.
The AGM also approved the Board’s proposal to deduct 10% of earnings and place it in its voluntary reserve, in addition to another 10% in its statutory reserve.
Aleid Foods Company revealed the activation of its strategic cooperation with City Center a prominent hypermarket chain across Kuwait, to produce and supply a variety of baked goods and sweets in all its branches across the country in addition to managing the operations of the bakery section in six main branches of City Center stores in Kuwait.
Aleid Foods Company announced the creation of a new department in its organizational administrative structure specialized in commercial development, and the appointment of Abdullah Khaled Al-Ghanim as its director, as part of its future operational plan to raise its position and achieve its strategic objectives…
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