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Amãna Bank declares its inaugural dividend

Amãna Bank June 29, 2018

Amãna Bank announced an interim dividend of 7 cents per share for the Financial Year 2018. The dividend will be paid on 16 July 2018. The Banks inaugural dividend declaration works out to a dividend yield of around 2% at current market prices, which is relatively comparable to the overall market dividend yield. The Bank earned a Profit after Tax of Rs 502.8 million during 2017, while Profit for Q1 2018 stood at Rs 162.8 million.

Commenting on this announcement the Bank’s Chairman Osman Kassim said “We are thankful for the confidence placed in us by our shareholders. This is just the beginning of rewarding our shareholders. We look forward to doing our best to ensure our shareholders reap the benefits of their investment with Amãna Bank”.

Amãna Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah based IDB Group being the principal shareholder having a 29.97% stake of the Bank. The IDB Group is a ‘AAA’ rated multilateral development financial institution with an authorized capital base of over USD 150 Billion which has a membership of 57 countries. Fitch Ratings, in June 2018, affirmed Amãna Bank’s National Long Term Rating of BB(lka) while upgrading its outlook to Positive from Stable. Amãna Bank does not have any subsidiaries, associates or affiliated institutions representing the Bank