Al Baraka Banking Group announces recommendation for dividend distributions
Al Baraka Banking Group B.S.C. announced the recommendation to distribute $82.2m to the shareholders after the approval of the AGM on 23 March 2014. For seven year in a row, the distribution is in line with AlBaraka commitments to its shareholders.
The cash dividend equal to $36,690,179 as 3.5 cents for each share equal to 3.5% of the issued and paid capital while the stock dividends to be 1 Bonus Share for every 23 fully paid Shares amounting to $45,577,862 equal to 4.35% of the issued and paid capital
The entitlement will be for Shareholders registered after the closing of stock trading in the date of AGM.
AlBaraka also announced publishing a digital file for shareholders and interested parties on the official website including all AGM documents and agenda details
AlBaraka Banking Group B.S.C. (Bahraini Shareholding Company) licensed as Islamic wholesale Bank by the Central Bank of Bahrain, and listed in Bahrain Bourse and NasdaqDubai, It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion and is rated by Standard & Poor’s at BB (long term) / B (short term). Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari’a. The authorized capital of Al Baraka is $1.5bn, while total equity is at about $2bn.
The Group has a wide geographical presence in the form of subsidiary banking Units and representative offices in 15 countries, which in turn provide their services through more than 479 branches in Jordan, Tunisia, Sudan, Turkey, Bahrain, Egypt, Algeria, Pakistan, South Africa, Lebanon, Syria, Indonesia, Libya, Iraq and Saudi Arabia.
Maha Al Jowesir
Assistant Manager – Corporate Communications & PR
Al Baraka Banking Group
(Licensed as an Islamic Wholesale Bank by CBB)
PO Box 1882, Manama
Kingdom of Bahrain
Tel: +973 17541122 ext: 227
Fax: +973 17536533