Arab Bank shareholders authorise 30% cash dividends, bonus share for every 15

AMMAN — Arab Bank will be distributing cash dividends to shareholders at a rate of 30 per cent following the approval of shareholders during an ordinary general assembly meeting last week. The dividends amount to JD160.2 million taking into consideration that between 2009 and 2013, cash dividends distributed by the bank totalled JD667.5 million. Moreover, shareholders approved during an extraordinary session the distribution of a bonus share for every 15 shares held by investors. Subsequently, the bank’s capital will increase to JD569.6 million. In a statement issued by the bank on Saturday, the general assembly also elected a new board of directors for the coming four years. Sabih Al Masri was elected chairman and Samir Qawar vice chairman. Members comprise the Saudi ministry of finance, Jordan’s Social Security Corporation, Abdul Hamid Shoman Foundation, Nazek Al Hariri, Mohammad Al Hariri, Omar Razzaz, Bassam Kanaan, Wahbeh Tamari and Abbas Farouq Zueitar.