BLOM Bank Announces Dividend Distribution for 2015

During the Annual Ordinary General Assembly held on April 14^th, 2016, BLOM Bank’s shareholders approved the accounts of the bank for 2015 and the distribution of dividends and returns amounting to LBP 273,539,889,000 or $181.45 million, accounting for 45% of BLOM’s 2015 net profits.

The dividends will be distributed as follows:

• To holders of preferred shares series 2011, an amount of $0.70 per share
• To holders of common listed shares, an amount of LBP 1,250 per share or $0.83 per share

After the deduction of the applicable distribution tax at the rate of 5%, the net payable amounts are as follows:

• To holders of preferred shares series 2011, an amount of $0.665 per share
• To holders of common listed shares, an amount of LBP 1,187.50 per share or $0.79 per share

The payment shall take place through Midclear S.A.L, starting the 20^th of April, 2016 for the holders of preferred shares series 2011 and 21^st of April, 2016 for the holders of common listed shares with the record date being the 20^th of April 2016 for both common and preferred shares.

According to the official statement from the Beirut Stock Exchange, since the record date and the payment date for preferred shares happen to fall on the same day (20^th of April, 2016), the updating of the list of shareholders and the start of dividend distribution will overlap.

In order to avoid this overlap, the trading in BLOM Preferred 2011 shares will be suspended exceptionally during the trading session of Friday 15^th of April 2016 and will resume normally on Monday 18^th of April 2016. The 18^th of April will be the ex-dividend date for BLOM shares, as of which new shareholders are no longer entitled to 2015’s dividends.

Source: BLOM Bank, Beirut Stock Exchange