Al Baraka completes distributing $68.85 million to the shareholders
Al Baraka Banking Group completed the dividend distribution to shareholders for the year 2016 results as approved by the Assembly General meeting (AGM) on 26 April 2017.
Shareholders will be receiving the cash dividends amounting to $11,39 million equal to one cent per share (one per cent), while Bonus Shares amounting to $57,46 million equal to one share for every 20 shares (five per cent) of issued and paid-up capital has been added to shareholders position post to AGM.
The entitled shareholders are according to the Register as of AGM date 20 March 2017.
Applicable Zakah related to cash dividend is cent 0.38 per share that shareholders has to pay by their own, while the Bank will pay the remaining part of Zakah as approved by the AGM.