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Al Baraka Bank Egypt’s shareholders approve dividends, bonus shares

Al Baraka Bank Egypt’s shareholders approve dividends, bonus shares
The bank’s OGM approved a capital increase of EGP 309.28 million
Al Baraka Bank
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Cairo – Mubasher: The ordinary general meeting (OGM) of Al Baraka Bank – Egypt approved procedures to distribute dividends for 2019.

The bank’s shareholders agreed to distribute 10% of the share capital or EGP 0.70 per share at a total value of EGP 154.64 million, according to a bourse disclosure on Sunday.

Moreover, the bank’s OGM approved a decision to distribute 44.18 million bonus shares or 0.20 bonus share for every share held by increasing the issued and paid-up capital by EGP 309.28 million.

It is worth mentioning that during 2019, Al Baraka Bank – Egypt reported net profits of EGP 1.07 billion, slightly up from EGP 1.003 billion in 2018, including minority shareholders’ rights.