29-01-2025
- Business
- Bahrain News Gazette
Bahrain Clear Distributes BD 364.67 Million in Dividends Through ‘Amanat' Program
Manama: Bahrain Clear, a fully-owned subsidiary of Bahrain Bourse, announced the successful distribution of cash dividend distributions during the year 2024, amounting to BD 364.67 million. Of this amount, BD 360.75 million was distributed under the 'Annual Cash Dividends Fund' on behalf of 31 companies to 56,967 entitled shareholders, representing a 97.4% distribution of the total amount received. Additionally, BD 3.92 million was distributed during the year 2024 under the 'Accumulated Cash Dividends Fund' for unclaimed dividends from previous years.
According to Bahrain News Agency, the 'Amanat' program established two independent funds: the 'Accumulated Cash Dividends Fund', which comprises unclaimed cash dividends not distributed to shareholders after six months from the dividend distribution date, and the 'Annual Cash Dividends Fund', which involves cash dividends set for distribution to entitled shareholders within six months from the distribution date.
Bahrain Clear manages the distribution process for all listed companies, with 31 listed securities declaring dividends during the year 2024 for the financial year ended December 31, 2023. All investors received their dividends via IBAN bank transfers. In line with the Listing Rules, Bahrain Clear distributes declared dividends within a maximum of 10 market days from the Record Date, excluding the Record Date.
Chief Operating Officer of Bahrain Clear, Mr. Abdulla Abdin, stated that they are pleased with the successful distribution of dividends to shareholders. Bahrain Clear has been responsible for distributing dividends since the establishment of the 'Amanat' Investor Protection Funds Program, demonstrating their commitment to updating shareholders' KYC to ensure timely receipt of dividends.
In accordance with Ministerial Cabinet Resolution No. 2020/48-2, Bahrain Bourse established the 'Amanat' Investor Protection Funds Program to ensure investor protection and the management of cash dividend distributions for all listed companies. As per article (10) of Amanat Resolution 3/2020, the right to claim cash dividends due to shareholders is imprescriptible.
