Thursday, Mar 22, 2012
(This story was originally published Wednesday.)
BEIRUT (Zawya Dow Jones)--Bahrain's Al Baraka Banking Group, or ABG, Wednesday said its shareholders have approved a 1-for-6 bonus share distribution for 2011 that will boost its paid-up capital by about $144.9 million.
The shariah-compliant investment bank, which had a paid-up capital of nearly $869.6 million at the end of 2011, is mainly owned by Saudi businessman Saleh Kamel through direct and indirect interests.
The lender said in a statement that its shareholders have also approved a proposal for a cash dividend payout of $30.43 million for 2011 at the rate of 3.5 cents a share.
ABG, which is listed on Bahrain and Nasdaq Dubai bourses, said in February that its full-year net profit rose 12% to nearly $118.4 million compared with the previous year.
Its shares climbed 1.9% to close at $1.080 in an overall positive market Wednesday.
By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
22-03-12 0345GMT
