Saturday, Mar 10, 2012
(This story was originally published Thursday)
DUBAI (Zawya Dow Jones)--Aluminium Bahrain (ALBH.BH), or Alba, said Thursday it will pay shareholders a dividend of 67 Bahraini fils ($1.78) a share for fiscal year 2011, after the metal producer racked up record sales and production figures in the 12-month period.
The dividend will be payable from March 15 to Alba shareholders on record as of March 8, it said in an emailed statement. The company went public in November 2010.
In February, Alba said profit last year rose 53% to $564 million from $368 million in 2010.
"2011 is a break-through year for Alba--it will be marked as a year in which the company achieved a sound financial performance underpinned by healthy cash flows as well as the highest metal production in the company's 40-year history," Alba's Chairman Mahmood Hashim Al Kooheji said Thursday.
Alba, which employs around 3,000 people in Bahrain, produces more than 860,000 tons of aluminum a year. It supplies around 50% of the country's downstream aluminum industry's needs and about half of the aluminum consumed in the entire Gulf Cooperation Council region. This amount is equivalent to about 65% of its production, with the rest exported around the world.
-By Tim Falconer, Dow Jones Newswires; +9714 446-1690; tim.falconer@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
10-03-12 0632GMT
