GFH Financial Group Announces Dividend Payout
GFH Financial Group schedules AGM to discuss key financial decisions and dividend distributions.
Summary
GFH Financial Group is set to hold its Annual and Extraordinary General Meeting to discuss financial reports, dividend distribution, and strategic plans.
GFH Financial Group B.S.C. has announced the schedule for its Annual and Extraordinary General Meeting, set for March 13, 2025. The meeting will cover several crucial aspects of the company’s financial and strategic planning, including the ratification of the previous meeting's minutes, financial reports for 2024, and the distribution of dividends.
The agenda highlights the approval of a cash dividend distribution of 6.2% of the nominal value of ordinary shares, amounting to up to $61 million. This move reflects GFH's commitment to rewarding its shareholders, maintaining investor confidence, and enhancing shareholder value.
Additionally, the company plans to allocate $11.85 million to its statutory reserve and $1.5 million to its Zakat Fund, demonstrating its adherence to financial prudence and corporate social responsibility. The remaining profits will be retained for future investments and operational needs.
The meeting will also discuss the issuance of Tier 1 Financial Instruments and/or Sukuk, not exceeding BD 200 million, to strengthen the Group’s capital ratios. This strategic initiative is aimed at supporting GFH's long-term growth and stability.
As part of its corporate governance agenda, GFH will review and ratify the corporate governance report and compliance with regulatory requirements. The company will also seek approval to buy back up to 10% of its shares to support share prices and attract strategic investors.
Given these developments, investors should consider holding their position in GFH Financial Group. The company’s strategic focus on strengthening capital, rewarding shareholders, and maintaining robust governance practices suggests a stable outlook. However, potential investors should closely monitor the outcomes of the upcoming meetings and any subsequent announcements.
Source
Summary
GFH Financial Group B.S.C. is inviting shareholders to attend its Annual and Extraordinary General Meeting on March 13, 2025, at GFH House, Bahrain Financial Harbour. If the quorum is not met, subsequent meetings are scheduled for March 20 and March 27, 2025. The agenda includes ratifying previous meeting minutes, discussing reports on business activities, financial statements, and corporate governance, approving profit allocations, and authorizing share buybacks and auditor appointments. The Extraordinary General Meeting will address the issuance of financial instruments to improve capital ratios. Shareholders must submit attendance requests and proxies 24 hours before the meeting. Special arrangements are available for individuals with special needs. For inquiries, shareholders can contact the Investor Relations Department.
