Al Baraka distributes US$118.5 million to the shareholders.
Al Baraka Banking Group B.S.C. has announced distributing US$118.5 million to shareholders representing cash and stock dividends distribution for the financial year 2010 as approved by the AGM last month.
Cash dividends equal to 5 Cent per share (5% of capital) while stock dividends equal to 1 bonus share for every existing 10 shares (10% of capital). KPMG Fakhroo has been appointed in their capacity as official Shares Registrar to handle the distribution.
Al Baraka Banking Group is a Bahrain Joint Stock Company listed in Bahrain Bourse and NASDAQ Dubai stock exchanges (www.albaraka.com). AL Baraka is a leading international Islamic bank with Standard & Poor’s long and short-term credit ratings of BBB- and A-3 respectively. Al Baraka Banking Group offers retail, corporate / investment banking and treasury services strictly in accordance with the principles of the Islamic Shariah.
The authorized capital of Al Baraka Banking Group 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 13 countries, which in turn provide their services through more than 400 branches. These banking Units are Jordan Islamic Bank, Al Baraka Islamic Bank Bahrain, Al Baraka Bank Pakistan Ltd, Banque Al Baraka D'Algerie, Al Baraka Bank Sudan, Al Baraka Bank Limited-South Africa, Al Baraka Bank Lebanon, Al Baraka Bank Tunisia, Al Baraka Bank Egypt, Al Baraka Turk Participation Bank - Turkey, Al Baraka Bank Syria and a representative office in Indonesia and Libya (under formation).