Alba, the world’s largest aluminium smelter on one site, held its 16th annual general meeting (AGM) yesterday, via virtual attendance, in accordance with applicable regulations.
The meeting was chaired by chairman of Alba’s board Khalid Al Rumaihi and attended by Alba’s board of directors, executive management, shareholders, and representatives from regulatory authorities.
During the meeting, the shareholders reviewed and approved the minutes of the previous AGM held on March 12, 2025, together with the board of directors’ report on Alba’s business activities and the consolidated financial statements for the year ended December 31, 2025.
Approvals were given to the distribution of cash dividends to shareholders at 54.06 fils per share, equivalent to 54.06 per cent of the paid-up capital, amounting to BD76.5 million (inclusive of the interim dividends of 10.55 fils per share distributed to the shareholders by August 27, 2025).
The final dividend of 43.51 fils per share will be paid to the shareholders - at the record date of March 25, 2026 - from April 8, 2026.
In addition, the shareholders approved and authorised the board of directors to declare and pay interim dividends during future financial years, subject to defined conditions relating to profitability, solvency, and external auditor review.
Approvals were also given to the board of directors’ total remuneration of BD420,000 for 2025 and the transfer of BD142,142,539 to the retained earnings.
The report of the board of directors for the year-ended December 31, 2025, was approved while the external auditors’ report for the financial statements for the year-ended December 31, 2025, was reviewed during this meeting.
In addition, the 2025 Corporate Governance Report was tabled before the shareholders for approval and Ernst & Young were reappointed as the company’s external auditors for 2026.
During the AGM, the shareholders approved the appointment of six directors by Mumtalakat: Khaled Al Rumaihi, Shaikh Isa bin Khalid Al Khalifa, Omar Syed, Roselyne Renel, Rasha Sabkar, and Riccardo Picca; the appointment of one director by Saudi Arabian Mining Company (Ma’aden) - Ahmed Al Shaikh.
In addition, the shareholders elected three directors, Bruce Cox, Khaled Al Rowais and Armando Martinez, as independent board directors for the next term of three years (2026-2029).
As part of the AGM agenda, the shareholders approved the proposed acquisition of 100pc of Aluminium Dunkerque Industries France, subject to regulatory approvals.
The shareholders further authorised the board of directors to execute all related transaction documentation, financing arrangements, and guarantees in connection with the transaction.
Commenting on the occasion, Al Rumaihi said: “I take the opportunity to thank the former board members for their valuable contributions during the last term, a period that reflected Alba’s progress across operational excellence, financial strength, ESG leadership, and the execution of important growth priorities.
“I also warmly welcome the new board members and look forward to working alongside them and the executive management team as we advance Alba’s strategic agenda, including the proposed acquisition of Aluminium Dunkerque. This transaction represents a strategic inflection point for Alba, expanding our footprint into Europe and advancing our ambition to build a geographically diversified, low-carbon aluminium platform.”
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