AlBaraka Banking Group B.S.C. (ABG) has announced the distribution to shareholders (as of AGM date 21 March 2012) total of US$ 175.36 million representing cash and stock dividends for the financial year 2011 as approved by the AGM last week.
Cash dividends total of US$30.43 million equal to 3.5 Cent per share (3.5% of issued capital), while stock dividends total of US$144.93 million equal to 1 bonus share for every existing 6 shares (16.67% of issued capital).
Bounce shares has been added to all shareholders accounts, while cash dividends will be value Monday 30 April 2012. Bahrain Shares Registering Company has been appointed in their capacity as official Shares Registrar to handle the distribution.
AlBaraka Banking Group is a Bahrain Joint Stock Company Licensed as an Islamic Wholesale Bank by Central Bank of Bahrain, listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic bank providing its unique services to around one billion people and with Standard and Poor’s investment grade long term counterparty credit rating of BBB- / A-3 (Short Term). Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari’a. The authorized capital of Al Baraka is US$1.5 billion, while total equity amounts to about US$1.8 billion.
The Group has a wide geographical presence in the form of subsidiary banking Units and representative offices in fifteen countries, which in turn provide their services through more than 400 branches. Al Baraka is currently having a strong presence in Jordan, Tunisia, Sudan, Turkey, Bahrain, Egypt, Algeria, Pakistan, South Africa, Lebanon, Syria, Indonesia, Libya (under formation), Iraq and Saudi Arabia.