GFH AGM elects new board, approves 6.2% cash dividend

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

GFH Financial Group yesterday held its Annual General Meeting (AGM) at GFH House, Bahrain Financial Harbour, during which shareholders approved recommendation for a cash dividend.

It will be of 6.2% of the nominal value of all the ordinary shares, save for treasury shares, equivalent to US$0.0164 (BD 0.0062, UAE Dirhams 0.0603) per share.

Approval was also given to allocate US$3 million of the obligatory Zakat from the retained earnings, provided that the shareholders will be responsible for paying the remaining amount of Zakat due.

Among other decisions, shareholders authorized the Group to repurchase up to 10% of the total issued shares, subject to approval from the Central Bank of Bahrain.

Moreover, shareholders elected a new Board of Directors for the next three years.

The Groups Board will be comprised of Hisham Ahmad Alrayes, Ali Murad Ali, Darwish Abdulla AlKetbi, Ghazi Faisal AlHajeri, Abdulmohsen Rashed Al Rashed, Abdulla Jehad AlZain, Shaikha Minwa bint Ali AlKhalifa, Abdulaziz Abdulhamid AlBassam, Rashed Nasser AlKaabi and Fawaz Talal AlTamimi. Ghazi Al Hajeri, Chairman of GFH, commented, “Following another year of solid financial performance, we continue to focus on implementing the Group’s strategy and delivering top and bottom-line growth.

We are also happy to announce that shareholders have authorized the payout of another healthy dividend, as the Group remains focused on creating value for its shareholders.

We will continue to build on this momentum in 2024 and are committed to further progress and growth in the year ahead.”

Adding, Hisham Alrayes, CEO of GFH, said, “ With the support of our shareholders, we are poised to navigate the evolving business landscape, capitalize on emerging opportunities, and drive sustainable growth for the benefit of all stakeholders. Together, we will continue to guide GFH Group towards new heights of excellence, innovation, and responsible corporate citizenship.”