Alba made the first dividend since being listed on the Bahrain Bourse and the London Stock Exchange.
Alba’s 2010 dividends amounted to $200 million, and their value is equivalent to 53 fils per share.
Aluminium Bahrain (Alba) paid its first dividend as a publicly listed company on April 7, 2011.
The dividend distribution was approved by relevant regulatory authorities as well as by Alba’s shareholders at the Annual General Meeting (AGM) held on March 30, 2011.
Total dividends related to 2010 amounted to $200 million, of which the first instalment of $35 million was paid in 2010. The remainder equivalent to $165 million was paid on April 7, 2011 with $115 million going to Bahrain Mumtalakat Holding Company, $34 million going to Sabic Industrial Investment Company and $16 million to the parties who were able to purchase shares as a result of the IPO process.
“The payment of the first dividend since becoming a public company validates Alba’s strong business model along with its commitment to return cash back to shareholders,” said Mahmood Hashim Al Kooheji Alba Chairman while commenting on the payment of dividend.
“As a company, Alba provides flexibility and liquidity in the pursuit of its corporate objectives.”