BLOM Bank S.A.L. is pleased to inform the Bank’s Shareholders that the Annual Ordinary General Assembly convened on April 7, 2017 at the Bank’s Headquarters and approved the accounts of the Bank for 2016 and the distribution of dividends and returns amounting to LBP 343,262,708 thousand ($228 million) as follows:
- To Holders of Preferred Shares series 2011, an amount of USD 0.70 per share
- To Holders of Common Listed Shares, an amount of LBP 1500 per share
As a result of the above, the net payable amounts, after deduction of the applicable distribution tax at the rate of 5%, are as follows:
- To Holders of Preferred Shares series 2011, an amount of USD 0.665 per share.
- To Holders of Common Listed Shares, an amount of LBP 1425 per share.
Payment shall take place through Midclear S.A.L., starting the 12th of April, 2017 for the holders of Preferred Shares series 2011 and 13th of April, 2017 for the holders of Common Listed Shares according to the records of Midclear S.A.L as at April 12, 2017 (Record Date).
Regarding BLOM GDR Holders, the dividends are expected to be settled by BANK OF NEW YORK MELLON starting from April 26th, 2017.
In reference to BLOM Bank’s announcement, the Beirut Stock Exchange declared that the Ex-dividend date of the shares and GDRs of BLOM Bank SAL is Monday, April 10, 2017
Hence, BLOM Bank’s GDR shares ended today’s trading session with a 5.84% decline to a price of $11.94.