Al Baraka Banking Group is set to start distributing $32.8 million cash dividends for last year to shareholders from today (April 29).

This follows approval of the proposal and the financial results by shareholders in the annual general assembly, said a report in the Gulf Daily News (GDN), our sister publication.

Entitled shareholders to the cash dividends are according to the register as of AGM date, March 23.

The dividend payout equates to three cents per share, while bonus shares amounting to $21.88 milion and equal to two per cent of issued and paid-up capital have been added to shareholders accounts.

The applicable zakat per share is 0.60 cents and shareholders have to pay zakat on their own.

Karvy Computershare has been appointed to handle the dividend distribution, the bank said. - TradeArabia News Service