GFH Financial Group approves 2017 financial results and shareholder distribution at its AGM.
GFH Financial Group (GFH) has concluded its Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) for the financial year ended 31 December 2017, where shareholders voted to distribute cash dividends of 8.72% of the nominal value of the ordinary shares (0.0231 per share) at a total amount not exceeding $85,000,000. Dividend distribution will commence within 10 days from the AGM date.
Shareholders also approved the Group’s 2017 financial results, which saw GFH report strong net profit of US$104.2 million for the year, reflecting significant year-on-year growth in all areas of the business when excluding one-off income recorded in 2016.
The meeting further saw the approval of the Board of Director’s Report, the new policies of GFH and the election of a new Member of the Board of Director, Mustafa Kheriba, who fills an existing vacancy and will join the Board for the current 2017-2019 term. The Shari’ah Supervisory Board and Corporate Governance reports were also approved as was the reappointment of the Group’s external auditors for the year 2018 and the Shari’ah Supervisory Board for the coming five-year period (2018-2022).