Mubasher: The ordinary general meeting (OGM) of Al Baraka Banking Group approved the board’s recommendation of distributing cash dividends and bonus shares for fiscal year 2016.

Al Baraka’s board proposed a cash dividend of 1% or 1 cent per share, as well as a bonus share of 5% or one share per each 20 shares, according to a bourse statement issued on Monday.

The earnings shrank by 6.48% to total $267.64 million in FY16 from $286.19 million in FY15.