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Al Baraka's OGM enacts 2% dividends for 2019

Al Baraka's OGM enacts 2% dividends for 2019
The distribution of cash dividends will be at $0.02 per share
Al Baraka Banking
BARKA
0.00% 0.26 0.00

Mubasher: The shareholders of Al Baraka Banking Group, listed on Nasdaq Dubai and Bahrain Bourse, have approved distributing cash dividends for 2019.

The dividends represent 2% of the share's nominal value, or 2 cents per share, aggregating at an amount of around $24.86 million, according to the group's statement to Bahrain Bourse on Tuesday.

During the ordinary general meeting (OGM), shareholders set 24 March as the last entitlement date.

Meanwhile, shareholders agreed on allocating $1.5 million in bonuses for board members.

It is noteworthy to mention that in 2019, the group's net profits decreased by 18% to $106 million, compared to $129 million in 2018.