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AME Bahrain market

Bahrain banks keep bourse at bay

: Wednesday, February 26 - 2014 @ 16:52

The Bahrain All Share Index closed 0.65 per cent lower at 1,377.53 points on Wednesday, February 26. Bahrain Duty Free surged by 5.81 per cent, while Arab Banking Corporation fell the most, ending down by 7.14 per cent. Islamic bank Al Baraka Banking Group closed even. Earlier in the day, Al Baraka said in a filing to the market that its board of directors resolved its meeting, dated February 23, 2014, to recommend the following shareholders’ distributions for approval by the assembly general meeting, subject to regulatory approvals: (1) Distribution of cash dividend from the profit of the year 2013 to the shareholders registered as of the date of the AGM amounting to $36.69 million as 3.5 cents for each share equal to 3.5 per cent of the issued and paid capital; and (2) The distribution of one bonus share for every 23 fully paid shares to the shareholders registered as of the date of the AGM equal to 4.35 per cent of the issued and paid capital, amounting to $45.577m from retained earnings.

Gérard Al-Fil

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Wednesday, February 26- 2014 @ 16:52 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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