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National Bank of Bahrain to propose 35% dividend distribution on profit

National Bank of Bahrain BSC said its board of directors will recommend at the company's next annual general meeting that 35% of its profit be distributed to its shareholders on the day of the AGM, following approval by competent authorities.

The distribution will comprise a cash dividend of 25% of the bank's issued and paid-up capital, equivalent to 31.9 million Bahraini dinars, or 25 fils per share, and bonus shares of 1 share for every 10 shares, representing 10% of the bank's issued and paid-up capital.

As of Jan. 30, US$1 was equivalent to 377 Bahraini fils.