Shareholders of Bank ABC approve $46 million dividend

Shareholders of Bank ABC have approved $46 million dividend on the back of robust revenues and solid strategic progress.

The announcement follows the 2023 AGM where shareholders approved cash payment of 1.5 per cent dividend or 1.5 cents for each outstanding share (net of treasury shares) for a total of approximately $ 46.4m,
about 50pc increase on last year.

During the AGM, the shareholders approved, amongst other resolutions, the consolidated financial statements for the financial year ended 31 December 2022, with a net profit attributable to shareholders of $154m. The results come on the back of significant growth in core business across the group’s network, aided by higher interest rates prevalent during the year, contributing towards crossing a historic $1 billion mark in revenue.

Bank ABC Group Chairman Saddek El Kaber, remarked, “Bank ABC Group has been diligently executing its strategy, which is bearing results despite challenging market conditions. The bank continues to accelerate performance, and set bold aspirations, aiming to gain market share notwithstanding continuing economic headwinds such as ongoing war in Europe, persistent inflation, and tighter monetary policy in many of our markets. We remain steadfast on capitalizing our strengths and leveraging our investments to continue to drive profitable growth for 2023 and the years to come.”

Source: https://www.gdnonline.com/Details/1207258/Shareholders-of-Bank-ABC-approve-$46-million-dividend-