Bahrain-headquartered global Islamic banking major, Al Baraka Banking Group (ABG), announced the dividends distribution, to shareholders as of AGM date 19 March 2013, amounting to $69.3 million represent cash and stock dividends of the financial year 2012 as approved by shareholders in the Annual General Assembly.
The stock dividends amounting to $33.8 million, equal to 1 bonus share for every existing 30 shares (3.33% of issued capital) has been added to shareholders accounts, while Cash dividends amounting to $ 35.5 million equal to 3.5 Cent per share (3.5% of issued capital) will be paid value Monday 29 April 2013. The official Share Registrar (Fakhro Karvy) has been authorized to handle the distributions.
The applicable Zakah for each share will be 1.04 Cent , and shareholders are required to pay Zahah on their own. The Shari’a Supervisory Board has announced the Zakah details in the Bank’s annual report, placed on the Bank’s website albaraka.com
ABG is a Bahrain Joint Stock Company licensed as “Islamic wholesale bank” by Central Bank of Bahrain, listed on Bahrain Bourse and NasdaqDubai. It is a leading international Islamic bank providing its unique services to around one billion people and with Standard and Poor’s investment grade long term counterparty credit rating of BBB- / A-3 (Short Term). Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari’a, with authorized capital $1.5 billion, and total equity amounts to about $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 more than 450 branches in Jordan, Tunisia, Sudan, Turkey, Bahrain, Egypt, Algeria, Pakistan, South Africa, Lebanon, Syria, Indonesia, Libya, Iraq and Saudi Arabia.