SICO, a leading regional asset manager, brokerage, and investment bank (licensed as a wholesale bank by the CBB), held an annual general meeting (AGM) and an extraordinary general meeting (EGM) on 28th March 2018 at the Capital Club, Bahrain Financial Harbour. The quorum was 100 percent.
At the AGM, SICO shareholders reviewed the Board of Directors’ report on the bank’s activities, and the external auditor’s report on the consolidated financial statements for the year ended 31 December 2017. The meeting approved the Board’s proposed distribution of BD 1.928 million in cash dividends for the financial year ended 31 December 2017, at the rate of 5% of nominal value, representing 5 fils per share. The shareholders also approved the transfer of BD 331 thousand to the statutory reserve and the transfer of the remaining sum of BD 1.017 million to the retained earnings account.
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