Bank AUDI Announces Dividend Distribution for the Year 2016

During Bank AUDI’s Annual Ordinary General Assembly convened on April 10, 2017, the Chairman of the Board of Directors, Mr. Raymond Audi, declared his resignation, and the board elected Mr. Samir N. Hanna as Chairman of the Board – General Manager. Moreover, Bank AUDI S.A.L. announced to the Bank’s Shareholders that the General Assembly approved the accounts of the Bank for 2016 and the distribution of dividends and returns as follows:

  • To Holders of Series “F” Preferred Shares a total of USD 9 Million on the basis of USD 6 per share.

  • To Holders of Series “G” Preferred Shares a total of USD 9 Million on the basis of USD 6 per share.

  • To Holders of Series “H” Preferred Shares a total of USD 4.875 Million on the basis of USD 6.5 per share.

  • To Holders of Series “I” Preferred Shares a total of USD 7.5 Million on the basis of USD 3 per share.

  • To Holders of Common Shares: a total of LBP 301.3 Billion ($199.87M) on the basis of LBP 753.75 per share ( $0.5 per share)

However, after the deduction of the 5% withholding tax, the net payable amounts would be:

  • To Holders of Series “F” Preferred Shares a total of USD 8.550 Million on the basis of USD 5.7 per share.

  • To Holders of Series “G” Preferred Shares a total of USD 8.550 Million on the basis of USD 5.7 per share.

  • To Holders of Series “H” Preferred Shares a total of USD 4.631 Million on the basis of USD 6.175 per share.

  • To Holders of Series “I” Preferred Shares a total of USD 7.125 Million on the basis of USD 2.85 per share.

  • To Holders of Common Shares: a total of LBP 286.25 Billion ($189.89M) on the basis of LBP 716.06 per share ($0.47 per share)

Dividends will be paid through Midclear S.A.L. starting April 18, 2017 for the holders of shares as at April 13, 2017 (Record Date), according to the records of Midclear S.A.L.

 

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