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Al Baraka Bank Egypt board ratifies dividends of LE0.63/share

Al Baraka Bank Egypt board ratifies dividends of LE0.63/share

ArabFinance: Al Baraka Bank Egypt (SAUD) announced in a statement sent to EGX, the Board of Directors was held on May 31.

The Board approved dividends LE0.63 per share, representing 9% of issued and paid capital with the amount of LE113,988,739. It also ratified distributing 0.11 free stock for every existing one held through increase the issued capital hike with 199.2796 free stocks according to shareholders quote in the capital, with total amount of LE139,319,572. The par value for each share is amounting to LE7 per share.

The Board ratified amending articles No. 6 and 7 of articles of associations. 

Moreover, the Board called for an extraordinary general assembly meeting to be held on June 25, 2018. The EGM will review amending article No. 3 and 24 of articles of associations.

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