Bahrain Clear pays $320mln dividend

MANAMA: Bahrain Clear has distributed cash dividend of BD121.82 million for 2020 representing 82 per cent of overall dividends declaration.

The company, which is a fully-owned subsidiary of Bahrain Bourse (BHB), managed the distribution process on behalf of 23 listed securities that declared dividends for 2020 on Bahrain Bourse and all investors received their dividends via IBAN bank transfers.

In accordance with Ministerial Cabinet Resolution No. 2020/48-2, BHB established the ‘Amanat’ Investor Protection Funds Programme to ensure investor protection and management and administration of cash dividend distribution for all listed companies.

Since the inception of ‘Amanat’, the cash dividend distribution increased from 50 per cent during 2019 to 82pc for 2020.

Commenting, Bahrain Clear vice-chairman and managing director Shaikh Khalifa bin Ebrahim Al Khalifa said, “Bahrain Clear strives to continuously provide value-added services to investors including fully-fledged digitisation plans to automate processes. This comes as part of Bahrain Clear’s strategy to enhance its services and better serve investors. The IBAN cash dividends transfer is part of our portfolio of digital services which we have previously rolled out including eIPO and electronic AGM services.

“As a licensed exchange, it is our legal and fiduciary responsibility towards our investors to ensure prompt and timely distribution of cash dividends. It is part of our strategy, and forms an integral part of our DNA. Hence, Bahrain Clear has been actively reaching out to investors via various platform to ensure updating their KYC information and IBAN details,” he added.

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