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Batelco approves BD41.6m dividend

Bahrain Business
Fri, 30 Mar 2018

MANAMA: Shareholders have approved Batelco Group’s financial results during the annual general meeting held yesterday at the telecom company’s Hamala headquarters.

The company’s board of directors attended the meeting, including chairman Shaikh Mohammed bin Khalifa Al Khalifa.

The board’s recommendations for a cash dividend of BD41.6 million was approved, at a value of 25 fils per share, of which 10 fils per share was paid last year, with remaining 15 fils to be paid in the coming weeks.

Shareholders also agreed Bateclo to purchase treasury shares of up to 10 per cent of the share capital to support its share price and liquidity.

Additionally, an extraordinary general meeting was held in which shareholders approved amendments to the articles of association.

“We are pleased to continue to build and return value to our shareholders as demonstrated by the dividend payment which is consistent with previous years and is an example of Batelco’s commitment to its shareholders,” said Shaikh Mohammed.

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