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Baraka Bank Egypt OGM okays LE253 m dividends

Baraka Bank Egypt OGM okays LE253 m dividends

ArabFinance:  Al Baraka Bank Egypt (SAUD) declared in a statement sent to EGX, the ordinary general assembly convened on March 03, 2018.

The OGM will review the financial results for the fiscal period ending December 31, 2017, in addition, the profit distribution attributable to shareholders for 20% of the issued capital.

The OGM approved amended profit distribution, in which it decided to use the first and second stakes of profits distribution in the capital increase which are amounting to LE63,327,075 and LE75,992,497 respectively, while the third stake of LE113,988,739 will be distributed in cash. 

It is worth to mention, the Board has delayed the meeting that was scheduled to be convened after the OGM on March 03, 2018. 

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