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AUB's shareholders approve 15% dividends, 5% bonus shares

AUB's shareholders approve 15% dividends, 5% bonus shares
The distribution is set to take place on 7 May 2020
AUB
AUB
0.86% 0.59 0.01

Mubasher: The shareholders of Ahli United Bank (AUB) have approved to pay out cash dividends equivalent to 15% of the share's nominal value or 15 fils per share for fiscal year (FY) 2019.

During the ordinary general meeting (OGM), shareholders have set 3 May 2020 as the date of maturity, according to the bank's disclosure to Boursa Kuwait on Tuesday.

The OGM also agreed on distributing 5% of the issued and paid up capital as bonus shares, at five shares for every 100 shares, by issuing 103.136 million new shares.

The cash dividends and bonus shares will be distributed to shareholders starting from 7 May.

It is noteworthy to mention that in 2019, the bank recorded $730.5 million net profits attributable to shareholders, up by 4.7% from $697.5 million in 2018.