Jazeera Airways board proposes 2025 dividend freeze

Shares in Kuwait-listed Jazeera Airways fell nearly 3 percent on Tuesday after its board proposed withholding the 2025 dividend.

The company’s board described the move as a “temporary and precautionary measure” due to the Iran conflict, it said in a statement to Boursa Kuwait.

The decision to postpone the dividend was taken at a board meeting on Monday. 

The board recommended a dividend payout of 85 fils per share in February, subject to shareholder approval. The company will hold its ordinary general meeting on April 9.

The shares closed at KD1,507 on Tuesday, with nearly 480,000 shares traded. The stock is down 6 percent so far this year.

The budget carrier said the new proposal does not reflect any deterioration in its financial position, as it maintains strong liquidity and financial resilience, which reflects a conservative approach amid the conflict.

Iranian drones hit Kuwait airport’s radar system on March 15, leading to the closure of the airport, state news agency Kuna reported.

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The dividend distribution will be reconsidered following the approval of the first quarter of 2026 financial results, the statement said.

The airline said net profit rose 114 percent year on year to KD21.8 million ($71.5 million) in 2025, as operating revenue increased 5 percent to KD218 million.

Founded in 2004, the airline’s major shareholders are The Boodai Group and Jassim Mohammad Al Mousa General Trading.