Cairo – Mubasher: Al Baraka Bank – Egypt’s ordinary general meeting (OGM) has approved adjusting dividends distribution for 2017 to become 20% of paid-up capital.
The OGM decided to amend the proposed cash dividend distribution to be 9% of the bank’s capital worth EGP 113.98 million at EGP 0.63 per share, the bank said in a filing to the Egyptian Exchange (EGX).
The OGM also recommended the payment of EGP 139.3 million in bonus shares in 0.11:1 ratio, the bank added.
Al Baraka Bank - Egypt’s capital amounts to EGP 1.26 billion distributed over 180.9 million shares at a par value of EGP 7 per share.
