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ABC to distribute $93m dividends for 2016

ABC to distribute $93m dividends for 2016
Arab Banking Corporation headquarters (Photo Credit: Bank Press Release)
Bank ABC
ABC
-9.86% 0.31 -0.03

Mubasher: The Arab Banking Corporation (ABC) on Sunday said its ordinary general meeting (OGM) approved a cash dividend representing 3% of its capital for 2016.

Dividends will be distributed at 3 fils per share and total $93.3 million, the bank said in a statement to the Bahrain Bourse (BHB).

The OGM also approved the board’s reports and the profits and loss accounts for 2016.

ABC reported $183 million in profits for 2016, an increase of 1.7% from $180 million in 2015.

The company’s stock ended Sunday down 1.37% to $0.360, after 14,000 shares were traded at a turnover of $5,040.