Bank Audi: Ordinary General Assembly Meeting on Apr. 10th & Proposed Dividends on Common Shares
Bank Audi’s board of directors (BOD) invited all holders of common shares to attend an Ordinary General Assembly Meeting that will be held at the bank’s headquarters in Audi Plaza, Bab Idriss, Beirut Commercial Central District on April 10, 2018 at 10:30 a.m.
The meeting’s agenda will include several items, among which are:
- The approval of the bank’s financial statement as of, and for the year ended Dec. 31, 2017, and the allocation of profits as per the BOD’s proposal.
- The declaration of distribution to holders of Audi Bank’s preferred shares and of dividends to holders of common shares and assign the record and payment dates.
- The assigning of the external auditor’s fees for 2018.
Moreover, Bank Audi’s BOD proposed that the dividend per common share stands at LBP829.125 per share, payable (after deduction of taxes) on or about April 16, 2018 to holders of common shares, where the record date with Midclear S.a.l (the central depository) is April 13, 2018. However both propositions are subject to the approval of the Annual Ordinary General Assembly.
Accordingly, the Dividend Yield of Audi would stand at $8.6/share in 2017, after deduction of tax from the proposed dividend.
Audi Bank’s Financial Highlights in 2017
| In millions of USD | 31-Dec-17 | 31-Dec-16 | YTD |
| Total Assets | 43,751 | 44,266 | -1.16% |
| Net loans and Advances to Customers at Amortized Cost | 16,186 | 17,069 | -5.17% |
| Customers’ Deposits at Amortized Cost | 32,953 | 35,415 | -6.95% |
| Total Shareholders’ Equity | 4,187 | 3,698 | 13.22% |
| Profit for the Period | 559 | 470 | 18.89% |
Source: BSE, Bank Audi
