Byblos to pay 2011 dividends

Board of Directors proposes $0.126 per common share

Byblos Bank’s Board of Directors will propose to the general assembly, scheduled for April 10, the distribution of dividends of LL200 per share ($0.13 currently) for the year 2011. Thus the net dividend proposed, after the reduction of the five percent withholding tax, is LL190 ($0.126) per common share.

Byblos Bank declared net profits of $179.7 million in 2011, up by 1.2 percent from the previous year. In 2010, Byblos Bank distributed net dividends of LL190 per common share.

The bank’s total assets stood at $16.6 billion at the end of last year. Customer deposits were $12.8 billion at end-2011.