$37.2mln payout for Bahrain's Al Baraka shareholders

Entitled shareholders are according to the shareholding register by end of AGM date, March 20.

  
Traders look at the screens at Bahrain Bourse in Manama, Bahrain, February 7, 2018. Image for illustrative purposes.

Traders look at the screens at Bahrain Bourse in Manama, Bahrain, February 7, 2018. Image for illustrative purposes.

REUTERS/Hamad I Mohammed

MANAMA: Al Baraka Banking Group today starts distributing $37.2 million as cash dividends to shareholders for the results of the financial year 2018 as approved by the annual general meeting (AGM).

The shareholders will be receiving total cash dividends amounting to $37.2m equal to three cents per share equal to three per cent of the issued capital. Entitled shareholders are according to the shareholding register by end of AGM date, March 20.

The applicable zakah related to cash dividend is ($0.773 for every 1,000 shares) which shareholders have to pay on their own, while the bank will pay the remaining part of zakah as approved by the AGM.

More details on zakah is available in the report of Sharia Supervisory Board within the annual report which is available online www.albaraka.com No character style: .

The share registrar (Karvy FinTech) appointed to handle the distribution of dividends, where shareholders can collect the cheques and enquire about their shares position.

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