Bahrain Car Parks Company (Amakin) shareholders have approved the distribution of cash dividends (excluding treasury shares) of 6 fils per share, at the rate of 6 per cent of the paid-up capital, equivalent to BD655,816 for the fiscal year ending December 31, 2022.
Approval was also granted to the board of directors’ proposal for total remuneration of BD52,500 for the year ended December 31, 2022.
The announcement follows the company’s annual general meeting at Bahrain Bourse yesterday, led by Amakin chairman Amin Alarrayed.
During the meeting, minutes of the previous AGM and EGM, which were held on March 30, 2022, were discussed and approved along with Amakin’s financial statements for the year ended December 31, 2022.
Amakin highlighted that the year 2022 is an extension of its efforts to enhance Bahrain’s parking ecosystem and ultimately establish the kingdom among the top in the regional parking landscape.
Through the year, the firm fulfilled its promise, delivering excellent outcomes in a wide range of disciplines, exceeding net profit actual by 4pc while increasing revenue by 15pc from the previous year.
The company delivered outstanding operational and financial results to its stakeholders, bolstered by key investments made in past few years, creating avenues for business growth, long-term collaborations, and revolutionising the parking ecosystem through seamless, innovative, and user-friendly solutions.
Amakin has fulfilled a number of milestones in 2022, cementing its position as the region’s leading mobility integrator.
This includes the introduction of Apple Pay for iPhone users to facilitate seamless and secure contactless payments in a number of sites we own and operate. Such key partnerships have empowered the company to transform parking into a valuable experience that promotes seamless connectivity for all, therefore reaffirming the sector’s faith in Amakin.
Mr Alarrayed commented: “Over the last year we have witnessed Amakin earn headlines on repeated occasions, including innovative solutions, accessibility, financial success and efficiency.
“Looking ahead into 2023, we see it as a critical time for reflection and transformation as we strive for improved value recognition for our shareholders and emphasise capitalising on today’s market momentum,” he added.
Amakin chief executive Tariq Ali Aljowder said: “Amakin aims to be a key player in transforming the future of parking solutions, and we can confidently report that with our strong financial performance in 2022, we have achieved exactly that. Throughout the years, our key alliances have been a direct evolution based on our dedication to delivering sought-after smooth parking experiences.”
avinash@gdnmedia.bh
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