OTC 276 Al Masar Leasing & Investment Company held its ordinary and extraordinary general assembly for the financial year ending December 31, 2024, and approved all agenda items, including the Board of Directors' report, the governance report, the auditor's report, and the audited financial statements.

The ordinary general assembly also approved the Board of Directors' recommendation to distribute cash dividends to shareholders for the year ending December 31, 2024, at a rate of 3% of the nominal value of the share, equivalent to 3 Fils per share, along with a distribution of bonus shares at a rate of 3.7% (3.7 shares for every 100 shares).

During the general assembly, Deputy Chairman Sheikh Jaber Al-Hamoud Al-Sabah expressed pride in the performance of Al-Masar Leasing and Investment over the past years, noting the successful strategy that has contributed to enhancing the company's position and achieving revenue and profit growth.

Sheikh Jaber Al-Hamoud Al-Sabah added that the company's financial statements reflect the strength of its financial position, and the Board of Directors is confident in its ability to continue achieving positive results while maintaining continuous growth in shareholders' equity.

He mentioned that the company achieved a net profit of 1.294 million dinars, equivalent to 10.53 Fils per share, during the financial year ending December 31, 2024.

For his part, Talal Sultan Al-Shahab, the CEO, stated that the company experienced growth in operating revenues compared to the previous year, with total operating revenues for 2024 amounting to 10.5 million dinars. The company also saw growth in assets managed by others through the expansion of managing real estate and financial portfolios for its clients, as well as an expansion in leasing activities through Al-Awlawiya for Automobiles, one of the subsidiaries of Al-Masar for Leasing and Investment.

Furthermore, the company witnessed an increase in the growth of its real estate assets, having completed the development of some properties during the year, which will lead to an increase in future rental revenues. The company's total assets amounted to 37.5 million dinars, and total shareholders' equity reached 14.219 million dinars as of December 31, 2024.