Al Baraka to pay $69.3m dividends
Manama, April 15, 2013
Al Baraka Banking Group, a leading Islamic lender based in Bahrain, has announced plans to distribute dividends worth $69.3 million including cash and stock to the shareholders for 2012.
The stock dividends amounting to $33.8 million, equals to 3.33 per cent of issued capital, equating to one bonus share for every 30 shares held has been added to shareholders' accounts, reported the Gulf Daily News, our sister publication.
The cash dividend amounting to $35.5 million, equal to 3.5 cent per share (3.5 per cent of issued capital), will be value paid on April 29, the report stated.
Fakhro Karvy as the official share registrar has been authorised to handle the distributions.
The applicable Zakah for each share will be 1.04 cent, and shareholders are required to pay it on their own. The record date is the annual general meeting date of March 19.-TradeArabia News Service