Al Baraka complete distributing US$68.85 million to the shareholders
26 April 2017
Al Baraka Banking Group (B.S.C.) completing today (Wednesday 26 April 2017) the distribution to shareholders for the year 2016 results as approved by the Assembly General meeting (AGM).
The shareholders will be receiving the cash dividends amounting to US$11,39 million equal to 1 Cent per share (1%), while Bonus Shares amounting to US$57,46 million equal to 1 share for every 20 shares (5%) of issued and paid-up capital has been added to shareholders position post to AGM.
The entitled shareholders are according to the Register as of AGM date 20 March 2017.
Applicable Zakah related to cash dividend is Cent 0.38 per share that shareholders has to pay by their own, while the Bank will pay the remaining part of Zakah as approved by the AGM.
More details on Zakah is available in the Sharia Supervisory Board report within the Annual Report that available online www.albaraka.com
The Share Registrar (Karvy Computershare) has been appointed to handle the dividends distribution, where Shareholders can collect the dividends cheques from their offices:
Karvy Computershare WLL
Manama, Kingdom of Bahrain
call center: (+973) 17215080
Fax : (+973) 17212055
(8:00am till 5:00pm Sunday to Thursday)
To contact us :
Mr. Ahmed AbdulGhaffar
VP â€“ Investors Relations
AlBaraka Banking Group B.S.C.
Tel: (+973) 17520701 / 17541122
Fax: (+973) 17910911
Email : [email protected]
Al Baraka Banking Group (B.S.C) is licensed as an Islamic wholesale bank by the Central Bank of Bahrain, listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion. It is jointly rated BBB+ (long term) / A3 (short term) on the international scale and A+ (bh) (long term) / A2 (bh) (short term) on the national by Islamic International Rating Agency & Dagong Global Credit Rating Company Limited, and by Standard & Poor's at BB+ (long term) / B (short term).
Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari'a. The authorized capital of Al Baraka is US$ 1.5 billion, while total equity is at about US$ 2 billion. The Group has a wide geographical presence in the form of subsidiary banking units and representative offices in fifteen countries, which in turn provide their services through over 700 branches. Al Baraka currently has a strong presence in Turkey, Jordan, Egypt, Algeria, Tunisia, Sudan, Bahrain, Pakistan, South Africa, Lebanon, Syria, Iraq and Saudi Arabia, including two representative offices in Indonesia and Libya.