Agility Holds its Ordinary General Assembly Meeting for the Year Ending 31 December, 2020
KUWAIT, 05 May 2021 – Agility, a leading global logistics provider, held today its Annual Ordinary General Assembly Meeting for the year ending 31 December 2020, with a quorum of 66.253%.
During the meeting, that was held electronically, shareholders approved all the items on the agenda, including Agility’s audited financial results and endorsed the Board of Directors’ recommendation for a cash dividend of 10% (10 fils for every share) and a bonus share distribution of 10% (10 shares for every 100 shares).
Dividend distribution will apply to the shareholders registered in the company’s records at the end of the settlement date on 31 May 2021, and will be distributed on 03 June 2021, provided that the company is able to finalize related processes.
Cash dividend distributions will be transferred electronically to the shareholders bank accounts that have registered with Maqasa. Shareholders are kindly requested to check with Maqasa to update their records.
Agility had announced 2020 net profit of KD 41.6 million, or 21.73 fils per share, a decrease of 52.1% from 2019. Revenue for the year reached KD 1.6 billion, an increase of 2.7%, and EBITDA reached KD 162.4 million, a decrease of 15.9%. The 2020 results include one-time expenses related to restructuring that took place in response to the COVID-19 pandemic for KD 12.5 million and KD 28 million expense associated with the loss of Amghara land. Agility Vice Chairman and CEO Tarek Sultan said that Agility remains committed to driving shareholder value and achieving its vision. “We will continue to remain true to our name, and be flexible and proactive as we define a new way forward for our business. Agility will focus both on growing our profitable group of existing businesses, as well as on identifying new opportunities for the next phase of our growth. As always, we thank our employees, our customers, our shareholders, our suppliers and our partners for their support,” he said.
Agility is a global logistics company with $5.3 billion in annual revenue and 26,000+ employees in more than 100 countries. It is one of the world’s top freight forwarding and contract logistics providers, and a leader and investor in technology to enhance supply chain efficiency. Agility is a pioneer in emerging markets and one of the largest private owners and developers of warehousing and light industrial parks in the Middle East, Africa and Asia. Agility’s subsidiary companies offer fuel logistics, airport services, commercial real estate and facilities management, customs digitization, and remote infrastructure services.