Bahrain-based telecommunications group Batelco on Thursday approved the distribution of a cash dividend worth more than $110 million.
Its annual general meeting saw shareholders approve the recommendation of the board of directors for a full year dividend at a value of 25 fils per share, of which 10 fils per share was already paid during the third quarter of 2017.
The remaining 15 fils will be paid in the coming weeks, Batelco said in a statement.
Shareholders also gave approval for Batelco to purchase treasury shares of up to 10 percent of the share capital to support its share price and liquidity.
Batelco chairman Sheikh Mohamed bin Khalifa Al Khalifa said: “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."For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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