Bank Audi Declared Dividends for 2018 and Re-elected Current Directors

The Ordinary General Assembly of Bank Audi S.A.L. convened on April 12, 2019. Accordingly, the following decisions were taken:

  1. The Board re-elected the current directors, Mr. Samir N. Hanna as Board’s Chairman – General Manager; Dr. Marwan M. Ghandour and Dr. Freddie Baz as Vice-chairmen, for the coming 3 years.
  2. The Board also approved the Bank’s 2018 financial accounts and declared a gross distribution of dividends as follows:
  • To Holders of Series “H” Preferred Shares: $4.875M in total, on the basis of $6.5 per share.
  • To Holders of Series “I” Preferred Shares: $17.5M in total, on the basis of USD 7 per share.
  • To Holders of Series “J” Preferred Shares: $19.25M total, on the basis of USD 7 per share.
  • To Holders of Common Shares: $219.83M (LBP 331.4B) in total, on the basis of $0.55 per share (LBP 829.125).

The dividends’ the net payable amounts (after the deduction of the 10% withholding tax) will be paid through Midclear S.A.L. as of April 17, 2019 (Record date) for the holders of the shares, noting the Ex-dividend date of Apr. 15, 2019.

Bank Audi’s 2018 Financial Highlights

Audi Common Shares Audi Preferred “H” Shares Audi Preferred “I” shares Audi Preferred “J” Shares
Dividend for 2018 (In US$) 0.55 6.5 7 7
Current Stock Price (In US$) 4.67 95 89.8 83
Dividend Yield 11.77% 6.84% 7.79% 8.43%

Source: Bank Audi; Beirut Stock Exchange

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