Mubasher: Investcorp Bank’s board of directors recommended the distribution of cash dividends at $0.24 per share (9.6% of the share’s par value) for the fiscal year 2016, ended on 30 June.
The proposal will be submitted to shareholders in the next general meeting, according to a statement released on Thursday.
The bank posted today a net profit of $90.05 million for FY16, falling by 14.9% down from $116.71 million for FY15.
Investcorp earlier distributed cash dividends at $0.15 per share (6% of the stock’s par value) for Fy15.
The stock rose by 6.38% to $.5 before closing today’s trading.
