Al Baraka completes distribution to shareholders

Manama : Al Baraka Banking Group announced it has completed yesterday the distribution to shareholders for the year 2016 as approved by the Assembly General meeting (AGM).

The shareholders will be receiving cash dividends amounting to US$11,39 million equal to 1 cent per share (1pc), while Bonus Shares amounting to US$57,46m equal to 1 share for every 20 shares (5pc) of issued and paid-up capital has been added to shareholders position post to AGM.

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.

The share registrar (Karvy Computershare) has been appointed to handle the dividends distribution, where shareholders can collect the dividends cheques from their offices.