First Education Company announced that it has started distributing the proceeds of reducing its capital amounting to KWD 4.25 million, by reducing 42.5 million shares, representing 33.3% of the outstanding shares owned by each shareholder, at a price of 100 fils per share, to be paid to shareholders in cash, starting Tuesday, 29 August 2023. This decision was approved by the Extraordinary General Meeting (EGM) that was held on 26 July 2023 and after receiving regulatory approvals to reduce the company’s authorized, issued and fully paid-up capital from KWD 12.75 million to KWD 8.5 million. The company also indicated that the cash dividend will be electronically transferred to shareholders’ bank accounts via e-Dividends service offered by Kuwait Clearing Company (KCC). The company also called on shareholders who did not subscribe to the e-Dividends service to check with their local banks or branches of foreign banks in the State of Kuwait to join the service.