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 SharesAudi Preferred “H” SharesAudi Preferred “I” sharesAudi Preferred “J” Shares
Dividend for 2018 (In US$)0.556.577
Current Stock Price (In US$)4.679589.883
Dividend Yield11.77%6.84%7.79%8.43%

Source: Bank Audi; Beirut Stock Exchange

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