Benefit, the innovator and leading company in Bahrain's fintech and electronic financial transactions service, has announced that its board of directors has won approval from shareholders for the distribution of 10% dividends for FY 2024.
The announcement was made by Benefit at the Annual General Meeting (AGM) held today (March 26) at its headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM, said Benefit in a statement.
The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended December 31, 2024.
Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, Benefit said the shareholders endorsed the allocation of a total amount of BD172,500 as remuneration to the members of the Board for FY 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB, said the statement.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks.
The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law, it added.-TradeArabia News Service
