Al Baraka to distribute $82m dividends
Manama, March 19, 2014
Al Baraka Banking Group yesterday announced its board has recommended the distribution of $82.2 million dividend to shareholders.
The recommendation is subject to approval of shareholders at the Annual General Meeting (AGM) on Sunday, reported the Gulf Daily News, our sister publication.
The bank said for the seventh year in a row, the distribution is in line with Al Baraka's commitment to its shareholders.
The cash dividend equal to 3.5 cents for each share is 3.5 per cent of the issued and paid-up capital, while the stock dividends will be one bonus share for every 23 shares equal to 4.35pc of the issued and paid-up capital.
The entitlement will be for shareholders registered after the closing of stock trading in the date of AGM.
Al Baraka also announced publishing a digital file for shareholders and interested parties on the official website including all AGM documents and agenda details
Al Baraka Banking Group is listed on the Bahrain Bourse and NasdaqDubai. The authorised capital of Al Baraka is $1.5 billion, while total equity is at about $2 bilion.-TradeArabia News Service