Bahrain Flour Mills AGM consent for BD620,640 cash dividend distribution | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Bahrain Flour Mills AGM consent for BD620,640 cash dividend distribution | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

The Annual General and Extraordinary General Assembly Meeting (AGM) of Bahrain Flour Mills Company yesterday approved the board of director’s recommendation to distribute a cash dividend of BD620,640, which is equivalent to 25 per cent of its paid-up capital. According to the company, 79.98 per cent of shareholders approved the agenda of the meeting, including the distribution of cash dividends. The shareholders reviewed the report presented by the board of directors along with the auditor’s report on consolidated financial statements for the fiscal year ending December 31, 2021. Company Chairman Marwan Khalid Tabbara hailed the company’s performance during the last fiscal year along with satisfactory financial results achieved despite the difficulties faced during the past year. As per the financial results, the full-year profit was BD3,946,872 versus BD1,086,159 for the same period in 2020, which is an increase of 263.38pc. The increase in net income was attributed to a rise in the market valuation of equity investment that contributes meaningfully to the company’s profit. Earnings per share 159 fils for 2021 versus 44 fils for the same period in 2020. The operating profit was BD226,832 for the year ending December 31, 2021. Marwan Tabbara assured the board of directors that