Bahrain Clear company has distributed cash dividend of 121.82 million Bahraini Dinars ($323.1 thousand) for 2020. This is 82% of overall dividends declaration.
Fully-owned subsidiary of Bahrain Bourse (BHB), the company managed the distribution process on behalf of 23 listed securities that declared dividends for 2020 on Bahrain Bourse.
All investors received their dividends via IBAN bank transfers.
Bahrain Clear company
To ensure investor protection and management and administration of cash dividend distribution for all listed companies, BHB established the ‘Amanat’ Investor Protection Funds Programme, In accordance with Ministerial Cabinet Resolution No. 2020/48-2.
Since the inception of ‘Amanat’, the cash dividend distribution increased from 50% during 2019 to 82% for 2020,
Vice-chairman and managing director of Bahrain Clear company, Shaikh Khalifa bin Ebrahim Al Khalifa, said, “Bahrain Clear strives to continuously provide value-added services to investors including fully-fledged digitisation plans to automate processes”.
He added that “This comes as part of Bahrain Clear’s strategy to enhance its services and better serve investors. The IBAN cash dividends transfer is part of our portfolio of digital services which we have previously rolled out including eIPO and electronic AGM services”.
“As a licensed exchange, it is our legal and fiduciary responsibility towards our investors to ensure prompt and timely distribution of cash dividends. It is part of our strategy, and forms an integral part of our DNA,” Al Khalifa said.
“Hence, Bahrain Clear has been actively reaching out to investors via various platform to ensure updating their KYC information and IBAN details,” he added.
Bahrain Clear is a fully owned subsidiary of Bahrain Bourse with a disclosed capital of BD 5 million, and a paid up capital of BD 1 million.
The company is licensed as a clearing house by the Central Bank of Bahrain, offering pre and post-trade services to investors as well as a range of services including transactions depository, clearing, settlement, central registry and registration.