Mubasher: GFH Financial Group has recommended a cash dividend of 8.7% or 2.31 cents per share for fiscal year 2017, according to a bourse statement on Wednesday.

The Islamic wholesale investment bank, listed on Boursa Kuwait, Bahrain Bourse (BHB), and the Dubai Financial Market (DFM), said that the proposed cash dividends will total $85 million.

It is noteworthy that GFH’s capital stands at $975.64 million distributed on 3,681.65 million shares at a par value of $0.27 each.

On Wednesday, the Bahrain-based group announced a growth of 52% in profits to $104.18 million in FY17 compared to $217.12 million in FY16.