MANAMA: Al Baraka Banking Group (B.S.C.) announced the start of distribution of US$22.14 million cash dividends from Wednesday 27th April to the shareholders for the year 2015 financial results as approved by the Annual General Assembly.
Entitled shareholders to the cash dividends are according to the Register as of AGM date 20 March 2016 and equal to 2 Cent per share, while Bonus Shares amounting to US$33.4 million and equal to 3% of issued and paid-up capital has been added to shareholder’s position.
The applicable Zakah on shareholders is 5.155 cent for every 100 share (0.05155 Cent per share), where shareholders have to pay the Zakah related to cash dividend by their own, and the Bank to pay the remaining part of Zakah as approved by the AGM.
More details available in the Shari’a Supervisory Board declared within the Bank’s Annual Report which is available on the Bank’s website www.albaraka.com
The Share Registrar (Karvy Computershare) has been appointed to handle the dividends distribution, where Shareholders can collect the dividends cheques from their offices.
Al Baraka Banking Group (B.S.C) is licensed as an Islamic wholesale bank by the Central Bank of Bahrain, listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion. It is jointly rated BBB+ (long term) / A3 (short term) on the international scale and A+ (bh) (long term) / A2 (bh) (short term) on the national by Islamic International Rating Agency & Dagong Global Credit Rating Company Limited, and by Standard & Poor’s at BB+ (long term) / B (short term).
Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari’a. The authorized capital of Al Baraka is US$ 1.5 billion, while total equity is at about US$ 2.1 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 600 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.